Spectator on facebook

Spectator on facebook

State budget deficit down slightly in September

The deficit of the state budget dropped slightly to €2.586 billion in September from €2.675 billion reported in August, the Finance Ministry announced on Monday, October 1. At the same time last year, the state financial management ended up in the red, equaling €2.159 billion.

The deficit of the state budget dropped slightly to €2.586 billion in September from €2.675 billion reported in August, the Finance Ministry announced on Monday, October 1. At the same time last year, the state financial management ended up in the red, equaling €2.159 billion.

The overall deficit planned for the whole of 2012 is €3.675 billion and the current situation represents 70.4 percent of this sum. State revenues at the end of September reached €8.202 billion, down by 0.89 percent year-on-year. The overall plan for 2012 has been met by 60.2 percent, the TASR newswire wrote. State expenditures were at €10.788 billion, growing by 3.4 percent year-on-year. From the projected sum of €17.3 billion, 62.4 percent has already been used.

The year-on-year drop in state revenues was mainly due to a fall in income from the EU budget amounting to €323.7 million. This reduction was related to a temporary halt in payments from the European Commission following previous inspections.

"These resources will come to the state budget with a delay, without having any effect on the deficit in 2012 according to the ESA 95 methodology," said the Finance Ministry as quoted by TASR. The shortfall in revenues was compensated with an increase in the income from dividends reaching €340 million. Tax revenues at the end of September recorded a year-on-year drop of €20.3 million, while other revenues went south €73.2 million (including drops in the interest income - €13.6 million, and other non-tax income - €53.4 million).

"The increase in the expenditures of the state budget was mainly due to the rise in the cost of the state debt, which increased by €221 million year-on-year, in line with the state budget," said the ministry.

(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.

Top stories

Crematorium in Bratislava is an architectural revelation Photo

Those who have experienced farewells in other crematoria know what makes it special. Now the best work by the architect Ferdinand Milučký is getting a monograph

Crematorium in Bratislava by architect Ferdinand Milučký

What kind of expectations do some Slovaks have for world leaders?

Among EU member states, opinions of the United States declined in all but two — Poland (which makes some sense) and Slovakia (which does not).

Donald Trump

Crates and boxes. Slovaks discover new ways of grocery shopping

Farmer’s boxes are gaining customers in Slovakia as people slowly become more conscious about quality and the origin of the food they eat.

Foreigners: Top 10 events in Bratislava Video

Tips for the top 10 events in the capital between January 19 and January 28, plus regular services in different languages, training, temporary exhibitions and highlights of the year.

Scandi 4