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2004: Public finance deficit 3.3 percent of GDP

SLOVAKIA's public finance deficit calculated in line with ESA 95 methodology used in the European Union was Sk43.868 billion (€1.1 billion) in 2004. This accounts for 3.3 percent of the gross domestic product (GDP), writes the Finance Ministry in its draft report on the Slovak Republic's state account for 2004.

According to final figures, the state budget closed 2004 with a deficit of Sk70.288 billion (€1.77 billion) with total revenues amounting to Sk242.444 billion (€6.1 billion) and expenditures at Sk312.733 billion (€7.86 billion). Thus, the final budget deficit was Sk8.207 billion (€210 million) below the projection set by the state budget law for last year, the SITA news agency reported.

The state covered the budget deficit by loans of Sk8.726 billion (€220 million) last year while the Finance Ministry plans to issue government bonds later this year to cover the remaining Sk61.562 billion (€1.55 billion).

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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