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Cabinet approves main outlines of 2006-08 state budget


THE SLOVAK cabinet approved the main parameters of the 2006-08 state budget at a special session on October 6, the news wire TASR reported.

The cabinet allocated Sk10.8 billion (€280 million) for its programme priorities next year, of which the education ministry will receive Sk2.3 billion (€60 million), and the economy and interior ministries Sk1.7 billion (€40 million) each. According to Finance Minister Ivan Mikloš, these sums should ensure that the cost of raising teachers' salaries and funding investment stimuli can be met.

The cabinet also allocated Sk7.4 billion (€190 million) for farming subsidies, which represents about 54 percent of the average for pre-enlargement EU member states.

The public finance deficit remains at 2.9 percent of GDP. Overall budget spending should reach Sk330 billion (€8.55 billion), for a budget deficit of Sk44.67 billion (€1.16 billion). However, if the costs of pension reform are included, the deficit is Sk20 billion (€520 million) greater.

The cabinet will consider the state budget proposal for 2006-8 on Wednesday, October 12. The government is committed to submitting the budget to parliament by October 15.

Compiled by Marta Ďurianová from press reports
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Slovak Spectator cannot vouch for the accuracy of the information
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