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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
Slovak Spectator cannot vouch for the accuracy of the information
presented in its Flash News postings

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