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Mikloš unveils state budget draft, deficit to fall to 3.8 percent of GDP

The state budget deficit should amount to €3.1 billion in 2012, Finance Minister Ivan Mikloš (Slovak Democratic and Christian Union (SDKÚ)) announced at a press conference on Thursday, August 11. The draft predicts revenues of €15.3 billion and expenditure of €18.4 billion next year, the TASR newswire wrote.

The state budget deficit should amount to €3.1 billion in 2012, Finance Minister Ivan Mikloš (Slovak Democratic and Christian Union (SDKÚ)) announced at a press conference on Thursday, August 11. The draft predicts revenues of €15.3 billion and expenditure of €18.4 billion next year, the TASR newswire wrote.

According to European methodology, the public administration deficit will reach €2.8 billion in 2012, representing 3.8 percent of GDP. This year's deficit is projected to be 4.9 percent. Total public administration revenues should reach €24.3 billion, while expenditure will total €27.1 billion. The state budget draft is set to be released by the Finance Ministry on Friday, August 12.

The first draft will include only basic priorities in the spheres of transport infrastructure and education. Other political priorities will be subject to further coalition talks over the next few weeks. Mikloš indicated that the Finance Ministry would be able to meet only 10 percent of the extra funding requirements submitted by individual ministries.

Source: TASR

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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