State budget deficit up to €2.743 billion in November

The state budget deficit grew to €2.743 billion in November from October's €2.466 billion, the Finance Ministry announced on Monday, December 3.

The state budget deficit grew to €2.743 billion in November from October's €2.466 billion, the Finance Ministry announced on Monday, December 3.

In November 2011, the state budget was €2.665 billion in the red. The deficit planned for the whole of 2012 reaches €3.675 billion, meaning that the current figure represents 74.6 percent of the planned sum. State incomes reached €10.418 billion at the end of November, which represents a year-on-year increase of 1.7 percent and 76.5 percent of the whole-year plan of €13.625 billion. Meanwhile, state expenditures stood at €13.161 billion at the end of November, going up by 2 percent year-on-year and representing 76.1 percent of the total sum planned for the year of €17.3 billion.

Austerity measures at individual ministries and in budget chapters have reduced ordinary state expenditures by €576.7 million during the 11 months when compared to the plan for the given period, the ministry states in its comments. Tax incomes fell by €34.9 million, while incomes from the EU budget were down by €22.2 million and other incomes dropped by €103.6 million. "The biggest year-on-year drop was seen in VAT earnings, almost €247 million," states the ministry as quoted by the TASR newswire. Part of the shortfall has been made up by a year-on-year increase in incomes from dividends worth €340 million," reads the commentary. The state expenditures increased by €238.6 million year-on-year. Financial means dedicated to the co-financing of joint programmes of Slovakia and the EU saw a drop of €50 million, while payments into the EU budget increased by €44.7 million.

(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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