Slovakia’s state budget posted a deficit of €1.9 billion over three-quarters of this year. In an annual comparison the deficit was 23.5 percent, €608 million, lower than last year.
“The budgetary plan was fulfilled at 64 percent, meaning that it develops better than planned," a Finance Ministry spokesman commented on the published information, as quoted by the SITA newswire. Total expenditures of the state budget through three-quarters of 2013 stood at €9.9 billion, down 8 percent year-on-year. This figure shows that 58.4 percent has been drawn from the budget for the whole year thus far.
However, also revenues were lower in annual terms - €7.9 billion in late September. In September, the deficit grew by €60 million.
“Behind a drop in budget expenses is mainly a decrease in expenditures on current transfer that was lower by €726 million y-o-y,” the ministry said. “Within this, expenditures on servicing the state debt were €204.7 million lower.”
As for revenues, the y-o-y shortfall is attributable to weaker revenues from European Union’s structural funds and also to lower income from dividends. The ministry does not perceive this fact as a threat to the budget.
According to the approved budget for 2013, the budgeted expenditures are €17 billion and revenues €13.9 billion. The state budget deficit can reach €3.1 billion this year.
Compiled by Zuzana Vilikovská from press reports
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.
2. Oct 2013 at 10:00