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

News digest: Salvator pharmacy will resume its original function

Bratislava marks the 280th anniversary of Maria Theresa's coronation, what to do with unwanted books, and decommissioning a former nuclear plant might take longer than planned.


13 h
A huge scale model of Banská Štiavnica.

Weekend: Bratislava is all set for summer

Meet Ukrainian cinematographer Leonid Burlaka through a screen, explore Slovak science, or hop on historical trams.


13 h
Slovakia's former UN youth delegate Petra Pauerová.

The UN is only as good as we are, says Slovakia's former UN youth delegate

Petra Pauerová, a university student, talks about her experience as a UN youth delegate.


22 h
SkryťClose ad