BUSINESS IN SHORT

State budget gap widens to €3.373 billion

SLOVAKIA’s state budget deficit continued to widen in October with just two months left before the end of 2010. But the overall budget gap for the first 10 months was within the initial budgeted level.

SLOVAKIA’s state budget deficit continued to widen in October with just two months left before the end of 2010. But the overall budget gap for the first 10 months was within the initial budgeted level.

The SITA newswire wrote that by the end of October the deficit reached €3.373 billion for the year to date and that during October the deficit was higher than that month's projected amount.

The deficit increased month-on-month by €260 million. The previous government projected the gap in the state budget for the full year of 2010 at €3.746 billion. In the first 10 months of 2009 the state budget had a deficit of €1.537 billion, the Finance Ministry stated, as reported by SITA.

Overall state revenue for 10 months reached €8.475 billion, representing only 67.6 percent of the previous government’s projection for the entire year, which had been expected to be 3.2 percent more than in 2009.

Expenditures, however, were 21.19 percent higher by the end of October, year-on-year.


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