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Public finance deficit could be lower than expected

THE SLOVAK Finance Ministry assumes that the public finance deficit calculated according to ESA 95 methodology might decrease to 3.25 percent of the projected gross domestic product (GDP) in 2005 without including pension reform costs. The approved state budget for 2005 foresees a deficit of 3.4 percent of GDP.

Finance Minister Ivan Mikloš said that the mid-year results confirm strong and healthy growth of the Slovak economy. According to him, all signals point towards stable foundations for healthy, high and sustainable growth of the Slovak economy, the SITA news agency wrote.

On the basis of the mid-year macroeconomic development, the Finance Ministry expects that Slovakia will close this year with a budget deficit Sk4.2 billion lower than originally projected.

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

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