Slovakia’s total public revenues to decrease by €1.019 billion in 2010

Total state revenues will be lower by €1.019 billion this year, a figure amounting to 1.6 percent of GDP, reports the tax prognosis published by the Finance Ministry on June 28, the TASR newswire wrote. The drop is estimated to be as much as €1.360 billion (1.9 percent of GDP) in 2011 and €1.768 billion (2.4 percent of GDP) in 2012. The previous prognosis published in September 2009 estimated that tax revenues would be lower by €833 million this year, €1.016 billion in 2011, and €1.253 billion in 2012.

Total state revenues will be lower by €1.019 billion this year, a figure amounting to 1.6 percent of GDP, reports the tax prognosis published by the Finance Ministry on June 28, the TASR newswire wrote.

The drop is estimated to be as much as €1.360 billion (1.9 percent of GDP) in 2011 and €1.768 billion (2.4 percent of GDP) in 2012. The previous prognosis published in September 2009 estimated that tax revenues would be lower by €833 million this year, €1.016 billion in 2011, and €1.253 billion in 2012.

“In comparison with September 2009 the prognosis reflects the worsened economic situation in 2009 and less favourable prognosis of macroeconomic parameters, which are closely related to tax collection,” reads the report, as quoted by TASR.

The analysts also offer a prognosis on social levies. State social insurer Sociálna Poisťovňa is estimated to see its revenues go down by €197 million in 2010, €306 million in 2011, and €399 million in 2012.

Source: 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.

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