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Finance Ministry: 2009 state budget to show deficit of 1.7 % of GDP

The revised draft state budget in 2009 is now projected to post a deficit of 1.7 percent GDP, according to a modified state-budget draft published by the Finance Ministry on October 13. Revenues are expected to reach €13.222 billion (Sk398.33 billion), while originally they stood at €13.029 billion (Sk392.51 billion). Next year's expenditures should reach €14.109 billion (Sk425.05 billion), as opposed to the previously projected €13.526 billion (Sk407.48 billion). The deficit is thus expected to reach €887 million (Sk26.72 billion), while the previous draft calculated on a deficit of €497 million (Sk14.97 billion). The Finance Ministry has made substantial changes in both the revenues and expenditures, but the projected deficit of public finances has increased only moderately from €1.270 billion (Sk38.26 billion) to €1.272 billion (Sk38.32 billion). The total revenues of the public administration should reach €25.720 billion (Sk774.84 billion), which is 34.4 percent of GDP, while expenditures are expected to amount to €26.992 billion (Sk813.16 billion), which is 36.1 percent of GDP. The Finance Ministry expects the state deficit to be at 0.8 percent in 2010, while in 2011 it should be balanced. TASR

The revised draft state budget in 2009 is now projected to post a deficit of 1.7 percent GDP, according to a modified state-budget draft published by the Finance Ministry on October 13. Revenues are expected to reach €13.222 billion (Sk398.33 billion), while originally they stood at €13.029 billion (Sk392.51 billion). Next year's expenditures should reach €14.109 billion (Sk425.05 billion), as opposed to the previously projected €13.526 billion (Sk407.48 billion). The deficit is thus expected to reach €887 million (Sk26.72 billion), while the previous draft calculated on a deficit of €497 million (Sk14.97 billion).

The Finance Ministry has made substantial changes in both the revenues and expenditures, but the projected deficit of public finances has increased only moderately from €1.270 billion (Sk38.26 billion) to €1.272 billion (Sk38.32 billion). The total revenues of the public administration should reach €25.720 billion (Sk774.84 billion), which is 34.4 percent of GDP, while expenditures are expected to amount to €26.992 billion (Sk813.16 billion), which is 36.1 percent of GDP. The Finance Ministry expects the state deficit to be at 0.8 percent in 2010, while in 2011 it should be balanced. TASR

Compiled by Zuzana Vilikovská from press reports
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