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Deficit projected to hit target

THE PUBLIC deficit should fall below the government’s target of 3.9 percent of GDP by year’s end.

Finance Minister Ivan Miklos told a news conference November 12 that the deficit would reach Sk50.2 billion (€1.255 billion), or 3.8 percent of GDP, according to the news wire TASR.

"July's presumption that the 2004 public finances deficit would be just below the target level of 3.9 percent of GDP projected in the state budget seems to have proven right," Miklos said.

According to the Minister, the relatively high economic growth, rising wages and consumption, along with low interest rates represent good macroeconomic fundamentals for the development of public finances.

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

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