Cabinet approves draft state budget for next year

The draft state budget for next year is now ready to be debated in parliament after the cabinet approved a final version of it on Wednesday, October 6. The budget projects a deficit in 2011 of €3.8 billion. Total revenue is budgeted at €13.1 billion and expenditure at €16.9 billion. The deficit of the entire general government, which also includes the budgets of health insurance companies, universities, self-governing regions and the social security provider Sociálna Poisťovňa, is set at 4.9 percent of gross domestic product.

The draft state budget for next year is now ready to be debated in parliament after the cabinet approved a final version of it on Wednesday, October 6. The budget projects a deficit in 2011 of €3.8 billion. Total revenue is budgeted at €13.1 billion and expenditure at €16.9 billion. The deficit of the entire general government, which also includes the budgets of health insurance companies, universities, self-governing regions and the social security provider Sociálna Poisťovňa, is set at 4.9 percent of gross domestic product.

The previous government of Robert Fico projected budget revenue for this year of €12.531 billion and expenditure of €16.277 billion, leaving a planned deficit of €3.746 billion. However, the actual budget deficit will amount to €4.7 billion, the Finance Ministry informed the SITA newswire.

The ministry expects revenue this year to be €11.147 billion and expenditure to be €15.847 billion. The general government deficit will therefore improve only marginally, from last year’s 7.9 percent of GDP to 7.8 percent this year. The government’s draft state budget for next year and general government budget will be submitted for parliamentary debate without the support of social partners – i.e. employers groups and unions – and in spite of criticism from the opposition.

The Education Ministry will have the highest budget, of €1.9 billion, next year. More than €410 million of this should come from EU allocations. Another priority will be the Transport Ministry, with a budget of €1.3 billion, €600 million of which should come from EU funds.

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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