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Finance Ministry says €1.16 billion required for deficit to reach EU criteria

Unless additional changes are adopted, Slovakia's public finance deficit will be at 4.46 percent of GDP in 2013, according to a Finance Ministry report on the state budget for 2013-15 that will be submitted to a session of the new government, the TASR newswire reported. A total of €1.166 billion will required on the revenue and expenditure sides of the budget for Slovakia to reach a budget deficit of 2.9 percent of GDP and comply with the EU's budgetary rules. The report summarises the ministry’s macroeconomic and tax forecasts based on intact expenditure levels from the 2012 budget and no additional consolidation measures. The basic scenario reports that the deficit will shrink to 4.19 percent and 3.6 percent of GDP in 2014 and 2015, respectively. But according to the EU’s rules the deficit should decrease from 2.9 percent in 2013 to 2.32 percent and to 1.68 percent in 2014 and 2015, respectively.

Unless additional changes are adopted, Slovakia's public finance deficit will be at 4.46 percent of GDP in 2013, according to a Finance Ministry report on the state budget for 2013-15 that will be submitted to a session of the new government, the TASR newswire reported.

A total of €1.166 billion will required on the revenue and expenditure sides of the budget for Slovakia to reach a budget deficit of 2.9 percent of GDP and comply with the EU's budgetary rules. The report summarises the ministry’s macroeconomic and tax forecasts based on intact expenditure levels from the 2012 budget and no additional consolidation measures.

The basic scenario reports that the deficit will shrink to 4.19 percent and 3.6 percent of GDP in 2014 and 2015, respectively. But according to the EU’s rules the deficit should decrease from 2.9 percent in 2013 to 2.32 percent and to 1.68 percent in 2014 and 2015, respectively.

The total public debt in Slovakia reached 43.3 percent of GDP at the end of 2011, TASR wrote and this figure is to increase to 50 percent in 2014 and then drop to 49.7 percent in 2015.

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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