The state budget at the end of May recorded a deficit of €1.6 billion, which was €558 million or 25.8 percent lower than the deficit posted at the same time last year, the Finance Ministry announced on Monday, June 3.
State expenditures were €719 million or 11.1 percent lower year-on-year, and incomes shrank by €161 million or 3.7 percent. Tax collection improved by 3.3 percent, however, which equates to €109 million, the TASR newswire quoted the ministry. In the case of income taxes, the year-on-year increase reached €73 million, with personal income tax going up €32 million, corporate tax up €29.5 million, and income taxes collected via deductions up €10 million.
"Conversely, a negative development was seen in the case of excise taxes - [down] €23.8 million, and emission quotas tax - [down] €9.7 million," stated the ministry. Financial means flowing into Slovakia from EU Funds in May saw a year-on-year drop of €254.5 million or 35.8 percent. Incomes on dividends were down by €31 million.
Compiled by Zuzana Vilikovská from press reports
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.
4. Jun 2013 at 10:00