Spectator on facebook

Spectator on facebook

State budget deficit exceeds €120 million in January

SLOVAKIA’S state budget started 2014 with a deficit of €122.9 million, based on data from the Finance Ministry, as reported by the SITA newswire.

SLOVAKIA’S state budget started 2014 with a deficit of €122.9 million, based on data from the Finance Ministry, as reported by the SITA newswire.

Compared to January 2013 the deficit almost doubled. From the annual planned deficit of €3.284 billion, the deficit in January represented just 3.7 percent.

The budget revenue in January increased by 14.2 percent year-on-year to €959.4 million. From the full-year revenue plan this was 6.8 percent. The actual tax revenue grew by 9.5 percent to €876.1 million, representing more than one-tenth of the whole year's planned tax revenue.

Expenditures of the state budget in January increased year-on-year by 19.9 percent to €1.082 billion. This represented 6.2 percent of the expenditures approved for the year.

According to the Finance Ministry, in nominal terms the year-on-year increase in tax revenue was €76.1 million.

All major types of taxes contributed to positive developments. VAT collection increased by €48.1 million, corporate income tax by €9.5 million, excise taxes by €8.6 million, withholding tax by €5.9 million and personal income tax by €3.7 million. In other taxes, revenue increase by €0.3 million.

A positive trend was also observed within transfers from the budget of the EU, where there was an annual increase of €6.8 million. In other revenue items of the state budget there was a year-on-year increase of €36.4 million. State budget expenditures were higher by €179.6 million than in January of last year.

Source: SITA

Compiled by Michaela Terenzani 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

For a Decent Slovakia gatherings return to streets

Protest gatherings will be held in several cities in Slovakia and abroad.

What we didn't know about our freedom

In 1989, we thought that once the job was done, we would only go out to the squares for Sunday walks.

November 1989 in Bratislava

Bratislava gets a taste of international poetry Video

The international poetry festival Ars Poetica will host poetry readings and other performances at various sites in the city.

Camilla Nelson

Spectacular Slovakia #11: What does a city boy from Brooklyn like about Slovakia? Audio

Dave Rubin came to Slovakia ten years ago and has lived in Bratislava ever since.

Pajštún