Spectator on facebook

Spectator on facebook

Finance Minister admits possible correction of 2009 budget deficit

The cabinet does not rule out a possible correction in the budget deficit, if necessary.

The cabinet does not rule out a possible correction in the budget deficit, if necessary.

Finance Minister Ján Počiatek admitted that economic growth projected in the budget could shrink and that this could lead to a change in the planned deficit. "I would theoretically admit possible flexibility of the deficit as such," the Počiatek said following the cabinet session on October 22.

Prime Minister Robert Fico, however, said he would give priority to preserving the planned deficit and would instead prefer cuts in sectors that have reserves. He reiterated that if cuts were inevitable, the Cabinet would certainly not seek reserves in sources earmarked for social programmes but in the budget of the Defence Ministry or in ministries’ procurement budgets.

The opposition and analysts have pointed out in recent days that the macroeconomic basis of the draft budget, which counts on economic growth of 6.5 percent next year, is optimistic because of the ongoing global financial crisis. Banks have revised their 2009 economic growth prognoses downwards to 4.5 percent on average. SITA

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

The processing of personal data is subject to our Privacy Policy and the Cookie Policy. Before submitting your e-mail address, please make sure to acquaint yourself with these documents.

Top stories

People marched for LGBTI rights in Bratislava

Take a look at the Bratislava Rainbow Pride 2018 that took place on Saturday, July 14.

First Slovak LGBTI activist has fought for 40 years

Czechoslovakia was one of the first countries to say homosexuality is not a crime, also thanks to the first activists like Imrich Matyáš.

Imrich Matyáš (r) met with German publicist and lawyer Kurt Hiller (second r) in Ľubochňa in 1935.

Measles might spread further west

Police will assist the vaccination in communities from where the epidemic spread.

This is why I support the Pride march

There is still a lot of work ahead of us in the United States, in Slovakia, and around the world to fight for equal rights for everyone no matter who they are or who they love, writer US Ambassador to Slovakia.

Slovakia's first Gay Pride parade crossed Bratislava's New Bridge on May 22.