Preliminary figures indicate that Slovakia’s state budget posted a deficit of €2.3 billion at the end of June, €748 million more than in June 2011, the Finance Ministry announced on July 2 as reported by the TASR newswire.
"The bigger deficit was due to revenues being down 4.3 percent year-on-year and an increase in expenditures by 7.3 percent," TASR wrote in quoting the Finance Ministry statement.
The ministry said the drop in revenues could be ascribed to a temporary halt in payments coming to EU-funded Operational Programmes ordered by the European Commission.
"The increase in expenditures was caused by a rise in costs related to the state debt, transfer of funds to the state-run social insurer, Sociálna Poisťovňa, as well as increased payments to the EU budget," according to the ministry statement, as quoted by 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.
3. Jul 2012 at 14:00