Cabinet Okays 2005 budget with Sk61.5 billion (€153m) deficit

THE GOVERNMENT has approved the 2005 state budget, with a deficit projected at Sk61.5 billion (€153m), 3.4 percent of planned GDP.

A budget income of Sk258.6 billion (€642m) is planned, with expenditure set at Sk320.1 billion (€795m), excluding the costs of pension reform.

For the fist time in Slovak history, the draft budget includes projections for the following two years.

In 2006, expected income is Sk275 billion (€683m), with an expenditure of Sk336.5 billion (€836m). The deficit is again planned at Sk61.5 billion (€153m). In public finances, the deficit should be Sk44 billion (€109m), 2.9 percent of GDP, not including pension reform costs.

In 2007, the deficit is expected to reach Sk55.5 billion (€138m) on revenues totalling Sk297.3 billion (€728m) with an expenditure of Sk352.8 billion (€876m).

In public finances, the Finance Ministry expects the deficit to be Sk30.9 billion (€77m), which is 1.9 percent of projected GDP.

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

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