Budget deficit shrank by €758 million year-on-year in August

The state budget posted a deficit of €1.917 billion at the end of August, which was €758 million lower than the deficit recorded for the same period last year, the Finance Ministry reported.

The state budget posted a deficit of €1.917 billion at the end of August, which was €758 million lower than the deficit recorded for the same period last year, the Finance Ministry reported.

State expenditures were €890 million, or 9 percent lower on an annual basis. At the same time, state income went down €130 million year-on-year, the TASR newswire quoted the ministry report.

Tax collection in August improved by 2.27 percent year-on-year, with the rise in tax revenues reaching €126 million in absolute figures, according to the Finance Ministry. While hikes in the collected tax were observed with respect to VAT (an increase of €101 million year-on-year) and income tax on legal entities (€69 million), the opposite trend was posted for excise tax, emission-quotas taxes and tax on international trade and transactions, however. Incomes from the European Union (EU) budget saw an annual drop of €279.8 million, TASR wrote.

“The lower budget expenditures result mainly from a decrease of expenditures on current transfers that decreased by €699 million from a year ago,” the SITA newswire quoted the ministry on September 2. “Within this item, spending on state debt servicing dropped by €212 million.”

According to the 2013 budget approved in parliament, the budgeted expenditures are €17.002 billion and revenues are €13.916 billion. The state budget deficit can reach €3.085 billion this year.

(Source: TASR, SITA)
Compiled by Zuzana Vilikovská from press reports
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.

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

Maya expert: The world we live in is not the only one possible

Leading Slovak expert contributes to rewriting Maya history.

Milan Kováč

Slovakia had followers of Palach

Despite the efforts of the communist regime, people kept Jan Palach and his protest in their memory.

One of the student demonstrations in Bratislava, 1969.

Foreigners: Top 10 events in Bratislava

Tips for the top 10 events in the capital between January 18 and January 27, plus regular services in different languages, training, temporary exhibitions and highlights of the year.

‘All his own work’

To preserve their credibility, real academics must call out plagiarism.

Speaker of Parliament Andrej Danko