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EC expects 3.2 percent deficit in 2014

THE EUROPEAN Commission predicts that Slovakia’s deficit next year will reach 3.2 percent of GDP. This forecast differs from the government’s, which in its draft state budget predicts a 2.8-percent deficit.

THE EUROPEAN Commission predicts that Slovakia’s deficit next year will reach 3.2 percent of GDP. This forecast differs from the government’s, which in its draft state budget predicts a 2.8-percent deficit.

The EC also suggested that Slovakia might be unable to permanently rein in its excessive deficit.

Regarding consolidation efforts, the government focuses on income in the 2014 draft budget. While several systematic measures are presented, there are also some one-time only measures, the SITA newswire reported.

Slovakia can be content with the EC’s evaluation of the 2014 EU national budget proposals, Finance Minister Peter Kažimír said at the Ecofin session held on the same day in Brussels, the TASR newswire reported.

The evaluation was the first of its kind, with the EC taking into account specific problems of each individual country.

Kažimír, speaking at the regular meeting of EU finance ministers, claimed that the EC’s stance on the Slovak budget came as no surprise and that he finds the analysis satisfactory.

"The evaluation contains praise as well as some concerns,” Kažimír said, as quoted by TASR. “Praise with respect to the development seen by the end of 2013. The good news is that the European Commission sees that we can manage 2013 at 3 percent or even under.”

On the other hand, Kažimír conceded that the EC is concerned about the following two years, 2014 and 2015.

"It's up to us now to convince representatives of the Commission as well as people here at home that we're capable of saving resources through the reform of public administration known as ESO," he said, as quoted by TASR.

Source: SITA, TASR

Compiled by Michaela Terenzani from press reports
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.

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