Draft state budget for 2011 assumes €1.45bn in spending cuts

Slovak ministers and other public administration bodies should operate with a budget of €14.830 billion next year, based on draft expenditure limits for 2011 which the Finance Ministry prepared for individual budgetary chapters in connection with the preparation of the draft general government budget for 2011-2013. The amount is €1.447 billion lower than this year’s budget. The proposed expenditures also include EU structural funds and national co-financing.

Slovak ministers and other public administration bodies should operate with a budget of €14.830 billion next year, based on draft expenditure limits for 2011 which the Finance Ministry prepared for individual budgetary chapters in connection with the preparation of the draft general government budget for 2011-2013. The amount is €1.447 billion lower than this year’s budget. The proposed expenditures also include EU structural funds and national co-financing.

The Health Ministry’s spending should shrink 14 percent to €1.23 billion, and the Finance Ministry should operate with a budget of €441.7 million, down 10.3 percent y/y. The expenditure of the Labour Ministry is to grow by 3.9 percent to €2.04 billion, the SITA newswire wrote. The general treasury administration should have €3.713 billion at its disposal, which is approximately the same volume as this year. The Public Procurement Office should have €2.68 million for expenditures, down 9.3 percent from this year. The consolidation planned for next year is about 2.5 percent of gross domestic product (GDP), equivalent to about €1.7 billion. Higher revenues should represent about one-third of the planned consolidation, and two-thirds should be obtained from cuts to the public sector, said Finance Minister Ivan Mikloš.

Source: SITA

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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