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2004 budget deficit on target

The Slovak government managed to stay within the targeted state budget deficit of Sk78.495 billion (€2.03 billion) in 2004, according to the TASR news agency.

Last year's deficit amounted to Sk70.28 billion (€1.8 billion) or 89.5 percent of the targeted amount, a spokesman for the Finance Ministry said January 3.

According to the spokesman, the positive result is because of restraints on spending and higher-than-projected tax revenue.

An increase of Sk9.365 billion (€240 million) over 2003's revenue brought 2004's revenue to Sk242.436 billion (€6.26 billion), reaching 104.5 percent of the target. Spending reached Sk312.716 (€8.07 billion), or 100.7 percent.

Regarding tax versus non-tax revenue, 2004's tax revenue increased over 2003's by Sk9.331 billion (€240 million), yielding Sk209.481 billion (€5.41 billion). This amounted to 107.3 percent of the projected plan. Non-tax revenue, of Sk32.955 billion (€850 million), was achieved at only 89.7 percent.

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

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