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.

Top stories

General Prosecutor filed a motion for the dissolution of ĽSNS

The Slovak Supreme Court received a motion to dissolve the extreme right ĽSNS party founded and led by Marian Kotleba.

Jaromír Čižnár

Russian spies allegedly recruit also Slovaks

They are using martial art clubs in Germany and dozens more in other EU states, in the Western Balkans, and in North America.

Illustrative stock photo

EC scrutinises state aid for Jaguar Photo

There is a question whether the scrutiny may impact the carmaker’s plans to invest in Slovakia.

The construction site of a brand new plant of Jaguar Land Rover near Nitra.

GLOBSEC forum will host guests from 70 countries

The 12th year of the conference will be attended by the highest number of participants in its history.

Slovak President Andrej Kiska gives the opening speech of The Globsec 2016 security conference.