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Slovakia’s Finance Ministry to seek no further austerity measures at this time

Developments in Slovakia's public finances are basically positive and for that reason the Finance Ministry is currently not preparing any additional measures to reduce the general government deficit further than the projected goal of 4.9 percent of gross domestic product, Finance Minister Ivan Mikloš stated at a news conference on August 2, as reported by the SITA newswire.

Developments in Slovakia's public finances are basically positive and for that reason the Finance Ministry is currently not preparing any additional measures to reduce the general government deficit further than the projected goal of 4.9 percent of gross domestic product, Finance Minister Ivan Mikloš stated at a news conference on August 2, as reported by the SITA newswire.

"We do not see any reason to draft additional measures," Miklos stated, adding that the ministry is ready to take further action if further measures to achieve the goals of the consolidation plan are needed. He did not specify what these might be.

Despite the positive developments in public finances, the minister said certain risks could be seen such as poor results in other country’s economies, the need for consolidation of the state-run railway companies, settling the debts of state-run hospitals or shortfall of revenues from the sale of excess emission quotas, the Sme daily wrote.

Mikloš also noted that some items in the state budget, such as expected dividends, could be higher than originally projected.

Source: SITA, Sme

Compiled by Zuzana Vilikovská from press reports
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