Spectator on facebook

Spectator on facebook


State budget in good shape

THE DEVELOPMENT of the state budget has pleased observers. For the first three months of 2004, the budget posted a surplus of Sk1.2 billion (€29.7 million) against last year's Sk18 billion (€445.8 million) deficit.

The positive trend was enhanced by VAT collection. Corporate tax collections rose by Sk2.5 billion (€61.9 million) year-on-year, the daily SME wrote.

Revenues grew by Sk20.6 billion (€509.8 million) year-on-year, reaching Sk67 billion (€1.7 billion) in late March, which is 28.9 percent of the full-year target.

Expenditures dropped by Sk1.57 billion (€38.9 million), 21.2 percent of the annual projection.

However, Movement for a Democratic Slovakia MP and former Finance Minister Sergej Kozlík said that it was too early to celebrate the good results.

He still sees budgetary risks and predicts complications in fulfilling the plans.

Finance Minister Ivan Mikloš is optimistic, but he does not think lowering taxes is realistic at this point. Slovakia overhauled its tax system last year, cutting income tax to a flat 19 percent, as opposed to the previous progressive taxation of income.

Top stories

Russian spies allegedly recruit also Slovaks

They are using martial art clubs in Germany and dozens more in other EU states, in the Western Balkans, and in North America.

Illustrative stock photo

EC scrutinises state aid for Jaguar Photo

There is a question whether the scrutiny may impact the carmaker’s plans to invest in Slovakia.

The construction site of a brand new plant of Jaguar Land Rover near Nitra.

GLOBSEC forum will host guests from 70 countries

The 12th year of the conference will be attended by the highest number of participants in its history.

Slovak President Andrej Kiska gives the opening speech of The Globsec 2016 security conference.

Armed forces need new armour, and more

Slovakia's armed forces need to modernise their military technology, but also improve infrastructure and make soldiers' salaries more competitive.

Illustrative stock photo