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Government postpones debate on state budget until next week

The basic outline of the state budget for the next three years, which should have been discussed by the government on Wednesday, May 4, has been postponed until the next weekly government meeting, the TASR newswire reported after the session.

The basic outline of the state budget for the next three years, which should have been discussed by the government on Wednesday, May 4, has been postponed until the next weekly government meeting, the TASR newswire reported after the session.

Finance Minister Ivan Mikloš (Slovak Democratic and Christian Union (SDKÚ)) recently unveiled his blueprint for the 2012 state budget, with the public finance deficit projected to drop from 4.9 percent to 3.8 percent of GDP next year. In the years to follow, Slovakia should meet the 3-percent limit required by eurozone budgetary rules. The Finance Ministry wants to put more stress on reducing expenditure, with savings forecast to reach €435 million next year. The austerity measures should include, among others, freezing total public service salaries with the exception of teachers' salaries, which should go up by 3 percent. At the same time, the ministry intends to introduce a bank tax, a hike in the excise tax on wine and beer, and extract higher revenues from gambling.

Source: TASR

Compiled by Zuzana Vilikovská from press reports
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