Spectator on facebook

Spectator on facebook

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

Top stories

Sagan rewrites history Video

Cyclist Peter Sagan becomes the first man to win three consecutive world championships.

When the state can’t keep a secret

A selective leak has tarnished President Kiska’s reputation. But he must continue to speak out about corruption.

President Andrej Kiska

Námestie Slobody gets facelift Photo

The architectural tender will gather ideas for the redesign of the biggest square in Bratislava

Námestie Slobody will be redesigned into a kind of living room in the city.

Fundamental values explored at Divadelná Nitra 2017

This time round, the Slovak, European and US ensembles at the theatre festival focus on #fundamentals, i.e. basic values and the essence of all things.

Nature Theatre of Oklahoma: Pursuit of Happiness