Ruling coalition agrees to increase 2005 public finance deficit

The ruling parties agreed to increase next year's public finance deficit to as much as 3.4 percent of GDP, compared to the 3.2 percent planned by the Finance Ministry in its outline for the 2004 budget, news wire TASR wrote.

However, none of the parties cast doubt on the plan to push the deficit in 2006 below 3 percent GDP, which is essential for the adoption of the euro, Finance Minister Ivan Mikloš told the press.

The rationale for increasing next year's deficit to 3.4 percent, excluding expenses for the pension reform, was based on the demands of several parties to increase expenditures in specific areas.

Compiled by Beata Balogová from press reports
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.

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