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Kažimír: State revenue €276 million less, budget in danger

Slovakia's tax and levy (payroll deductions) earnings for this year will probably be €276 million less than previously expected, according to an analysis provided by the Financial Policy Institute (IFP), said Finance Minister Peter Kažimír at a press conference on Tuesday, November 27.

Slovakia's tax and levy (payroll deductions) earnings for this year will probably be €276 million less than previously expected, according to an analysis provided by the Financial Policy Institute (IFP), said Finance Minister Peter Kažimír at a press conference on Tuesday, November 27.

"This has a substantial influence on meeting the budgetary goal of 4.6 percent [of GDP this year]," said Kažimír for TASR, speaking about the public finances deficit. The new prognosis for levy and tax collection has been prepared by IFP based on data from September and October. According to the minister, the revised figures put the ministry into a complicated situation in terms of budget cuts.

The prognosis for state revenue is still being estimated. "But we can already estimate ... that around a quarter of a billion euros will be missing compared to the [original] plan. Such a prognosis even poses a threat to the current version of the budget proposal [for 2013], which is currently being discussed in parliament. It can also be expected that we may amend the budget proposal ... directly in parliament," said Kažimír, pointing out that the public finances deficit must not exceed 3 percent of GDP next year.

(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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