Budget deficit at 3.8 percent in 2004

PUBLIC finances are expected to end the year with a Sk50.2 billion (€1.3 billion) deficit, or 3.8 percent of gross domestic product (GDP), the Slovak Finance Ministry announced November 24.

The ministry also announced continuous economic growth for Slovakia in its report on macroeconomics and public finance for the first three quarters of 2004.

Finance Minister Ivan Mikloš says real wage growth, domestic consumption and low interest rates have created good macroeconomic conditions for public finance, the TASR news agency wrote.

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