BUSINESS IN SHORT

State budget draft revised

THE STATE budget deficit in 2012 is estimated to reach €3.243 billion, €70 million more than projected in the original draft drawn up by the Finance Ministry in the middle of August. However, the ministry is sticking to its target of cutting the deficit from this year’s 4.9 percent to 3.8 percent of GDP in 2012, the TASR newswire wrote on October 4.

THE STATE budget deficit in 2012 is estimated to reach €3.243 billion, €70 million more than projected in the original draft drawn up by the Finance Ministry in the middle of August. However, the ministry is sticking to its target of cutting the deficit from this year’s 4.9 percent to 3.8 percent of GDP in 2012, the TASR newswire wrote on October 4.

In line with the updated proposal, which also considers somewhat gloomier predictions regarding upcoming developments in the Slovak economy, state revenue in 2012 should amount to €15.281 billion and expenditures are predicted to reach €18.524 billion.

The new draft includes a significant increase in the money allocated to the Health Ministry, which is to receive €50 million more than had originally been planned.

The Interior Ministry will receive €36 million more, while the budget for the Defence Ministry will rise by more than €20 million. The Finance Ministry also increased spending on the Slovak Information Service (SIS) intelligence agency and the Government Office, which will receive another €2 million.

On the other hand, funds for the general treasury administration will be cut by €43 million.



Not all members of the government were satisfied with the new draft.

“I can see that the priorities of Most-Híd have been resolved to the point of zero, while the priorities of the SDKÚ [Slovak Democratic and Christian Union] are at 100 percent,” said Agriculture Minister Zsolt Simon, adding that such a budget is aimed against people living in the countryside.

The ruling coalition was due to discuss the revised draft at its session on October 6 but no results had emerged as The Slovak Spectator went to print.


Get daily Slovak news directly to your inbox

Top stories

Which are the largest law firms in Slovakia?

For the first time, the ranking also provides an overview in partial categories of law.

Government has learned little, hesitates to open school gates

Education is a question of rights. So is protesting against the government, but at what costs? Slovakia welcomes hefty investment that comes with a warning sign.

Special regional restrictions and better tracing. SaS has introduced its plan to fight the pandemic

The document is based on eight chapters, which should contribute to economic recovery.

Richard Sulík introduces his plan.

Why so sad, why so mad?

What music you should listen to while waiting for your next COVID test results.

Nationwide coronavirus testing in Bratislava, October 31, 2020. City buses were used as testing sites too.