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State budget deficit will improve

DESPITE the state's plans to spend Sk61 billion (€1.56 billion) more than it will collect on taxes, the state budget deficit should improve, the daily SME reported.

This trend should continue despite expenses connected to finishing construction work on the Slovak National Theatre and the factory for Gertrag Ford.

The Finance Ministry estimates that thanks to higher tax revenues, lower expenses for state debt repayments as well as higher dividends from partially owned state companies, the state should be able to lower the state budget deficit by Sk4.2 billion (€110 million).

This positive trend was underscored by the positive end-of-July state budget balance, which registered a surplus for the first time.

Compiled by Magdalena MacLeod from press reports
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