Spectator on facebook

Spectator on facebook

EC: Slovakia should cut its budget deficit by 2013

Slovakia has been told by the European Commission to cut its general government deficit by the end of 2013. In a recommendation to the EU Council, the commission proposes giving nine European Union countries including Slovakia until 2013 to bring their deficits down to below the 3 percent limit set by Europe’s Growth and Stability Pact.

Slovakia has been told by the European Commission to cut its general government deficit by the end of 2013. In a recommendation to the EU Council, the commission proposes giving nine European Union countries including Slovakia until 2013 to bring their deficits down to below the 3 percent limit set by Europe’s Growth and Stability Pact.

A spokesman for the Slovak Finance Ministry, Miroslav Šmál, said that the EU Council is to decide on the recommendation on December 2. If the council confirms the recommendation, 20 of EU’s 27 members will be included in the excessive deficit procedure, Šmál said.

The Finance Ministry said that the deadline for reducing the deficit was appropriate. Šmál stressed that the general government budget passed by parliament last week assumes an even more ambitious consolidation. According to him, the budget will mean the deficit is brought below 3% of GDP a year earlier than the EC requires, in 2012. The parliament-approved budget predicts that the general government budget deficit will narrow from this year's 6.3 percent of GDP to 5.5 percent next year. In 2011, the gap should shrink to 4.2 percent of GDP and achieve the Maastricht deficit criterion of 3 percent of GDP in 2012.

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

Kiska: Even Europe has its aggressive neighbour

President Andrej Kiska addressed UN commenting poverty, instability and climate change.

President Andrej Kiska

Ryanair cancels some flights from and to Bratislava

The Irish low-cost airline publishes full list of cancellations

Irish budget airline Ryanair is believed to be cancelling up to 50 flights every day over the next six weeks because it "messed up" its pilots' holiday schedules.

No fees bring higher summer roaming

EU regulation raises the volume of roaming calls and data with Slovak mobile operators .

People should pay attention on used data abroad.

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