Spectator on facebook

Spectator on facebook

Finance Minister says Slovakia’s deficit to reach 6.3% of GDP

The public-finance deficit is expected to reach 6.29 percent of GDP this year, Slovakia’s Finance Minister, Ján Počiatek, said at a meeting of the parliamentary finance committee on September 3, the TASR newswire reported.

The public-finance deficit is expected to reach 6.29 percent of GDP this year, Slovakia’s Finance Minister, Ján Počiatek, said at a meeting of the parliamentary finance committee on September 3, the TASR newswire reported.

The shortfall will be €2.5 billion higher than the one stated in the originally planned budget and will reach €4 billion. The original deficit announced in the autumn of last year was planned to stand at 2.1 percent of GDP, but the crisis caused the Slovak economy to slump by around 5 percent in the first half of this year. Počiatek first increased the deficit estimate to 3 percent of GDP before now doubling it, TASR wrote.

Počiatek said that in the current crisis situation the European Commission does not have a problem with such a significant breach of the 3 percent limit set by the Stability and Growth Pact. He said that the estimated deficit is suitable in these conditions and creates a stabilising effect on the economy. 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

Job ads should inform about basic salary

One of the proposal’s authors from the Smer coalition voted in May against a similar proposal authored by opposition deputies

The shortage of workforce is a growing problem for entrepreneurs.

Top 3 news from Last Week in Slovakia Video

EMA will not relocate to Slovakia - Job ads will have to state actual payrates - Trnava factory to produce electric cars

PSA plant in Tranva.

Námestie Slobody square closer to facelift Photo

The Bratislava city council wants to revitalise the square by the end of 2018

The winning project for revitalisation of Námestie Slobody square

Slovak hockey league will not rest during Olympics

Unlike the Slovak premiere hockey league, Swiss, German and Russian leagues will take a break during the 2018 Winter Olympics.

Ice hockey is popular in Slovakia