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Budget deficit increases in July but is lower than last year

The state budget deficit climbed from €1.578 billion in June to €1.675 billion in July, the Finance Ministry announced on August 1, the TASR newswire reported. The deficit, however, was 30.4 percent lower than in July 2010 when the monthly deficit was €2.408 billion. The overall deficit projected for this year is €3.8 billion. "The deficit dropped by more than 30 percent year-on-year thanks to rising revenues and falling expenditures. The strong rate of decrease in basic spending on running the state is being maintained," said ministry spokesman Martin Jaroš to TASR.

The state budget deficit climbed from €1.578 billion in June to €1.675 billion in July, the Finance Ministry announced on August 1, the TASR newswire reported. The deficit, however, was 30.4 percent lower than in July 2010 when the monthly deficit was €2.408 billion. The overall deficit projected for this year is €3.8 billion.

"The deficit dropped by more than 30 percent year-on-year thanks to rising revenues and falling expenditures. The strong rate of decrease in basic spending on running the state is being maintained," said ministry spokesman Martin Jaroš to TASR.

Budget revenues amounted to €6.569 billion in July, a rise of 8.8 percent on the year. Expenditures, meanwhile, stood at €8.244 billion, a fall of 2.4 percent when compared to July 2010.

Source: TASR

Compiled by Zuzana Vilikovská from press reports
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