The Finance Ministry on June 23 raised its forecast for this year’s public-finance deficit because of what it says is worse-than-expected tax revenues, the TASR newswire reported.
As part of his economic and financial outlook, Finance Minister Ján Počiatek forecast an end-of-year public-finance deficit of 6.98 percent, up from last year’s 6.8 percent and the ministry’s earlier prediction of 5.5 percent. According to him, there is room for a targeted deficit cut either by cost-savings or increasing revenues.
“It’s possible to do on the revenue side via sales of redundant property or greenhouse-gas emission rights,” he said for the TASR newswire. Počiatek rejected suggestions that the deficit resulted from increased government spending.
“It resulted from a change in taxes ... the state is spending even less than is projected in the budget,” he said. As of Wednesday the state had spent €6.5 billion of the projected €16.3 billion for 2010.
Compiled by Zuzana Vilikovská from press reports
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.
24. Jun 2010 at 14:00