The state budget ended the year with a deficit of €2.791 billion, the Finance Ministry reported on December 4, the TASR newswire wrote. The state did better than was predicted in the revised budget of October 2009, which predicted a deficit of €3.154 billion.
The state budget for 2009 initially projected a deficit of €1.009 billion but with a considerable loss of incomes caused by the economic crisis the Finance Ministry prepared a revised budget that included a deficit more than three-times higher than the one previously expected. It was approved by Parliament in October.
According to the ministry's statement, state revenue reached €10.541 billion in 2009, which represented 96.08 percent of the revised expected amount of €10.971 billion and only 80.37 percent of previously expected revenue of €13.116 billion. State expenditures of €13.332 billion reached 94.39 percent of the whole-year plan - €14.125 billion.
The global economic and financial crisis caused the Slovak economy to shrink by around 6 percent, meaning that the public finance deficit could reach 6.3 percent of the country’s GDP instead of the previously predicted 2.1 percent. The Government promised an overall consolidation of public finances in 2010. TASR
Compiled by Zuzana Vilikovská from press reports
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5. Jan 2010 at 10:00