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.
Compiled by Michaela Terenzani from press reports
The Slovak Spectator cannot vouch for the accuracy of the information
presented in its Flash News postings.
4. Feb 2014 at 10:00