Spectator on facebook

Spectator on facebook

BUSINESS IN SHORT

Moody’s: Cutting deficit will be hard

CONSOLIDATION of the public finances as projected in the state budget for 2013 might not be sufficient to cut the deficit below 3 percent of Slovakia’s GDP, according to Moody’s rating agency, as reported by the Hospodárske Noviny daily on January 10.

CONSOLIDATION of the public finances as projected in the state budget for 2013 might not be sufficient to cut the deficit below 3 percent of Slovakia’s GDP, according to Moody’s rating agency, as reported by the Hospodárske Noviny daily on January 10.

“It will be demanding for Slovakia to achieve its aim to cut the public finance deficit to under 3 percent of GDP this year,” Jaime Reusche, the assistant vice president of the Analyst Sovereign Risk Group at Moody’s, said as quoted by the daily.

The main factor that could threaten the government’s aim of cutting the deficit is the fact that in 2012 it was higher than planned, as well as the slowing growth of the country’s economy and the subsequent decrease in the collection of taxes.

The Finance Ministry reiterated that getting below 3 percent of GDP is its priority, but admitted that it is a demanding goal, Hospodárske Noviny wrote.

The processing of personal data is subject to our Privacy Policy and the Cookie Policy. Before submitting your e-mail address, please make sure to acquaint yourself with these documents.

Top stories

The Financial Administration’s head resigns from post

František Imrecze says his decision was spontaneous.

František Imrecze

People will gather to support imprisoned Ukrainian filmmaker

The open letter in support of Sentsov has been signed by more than 2,800 people.

People hold posters to support Ukrainian filmmaker Oleg Sentsov, who is currently on hunger strike in a Russian jail to demand the release of the other Ukrainian hostages taken by the Kremlin, in front of the Embassy of the Russian Federation in Kiev on August 21, 2018.

Institutions can be quickly destroyed, but they are hard to build

Head of the To Dá Rozum intiative, Renáta Hall, talks about the impacts of a dispute between the academy of sciences and the Education Ministry.

Renáta Hall

Man from Russian sanction list trained president’s and PM’s bodyguards

Denis Riauzov is on the sanctions list and the secret services believe he is a Russian agent.