Spectator on facebook

Spectator on facebook

Budget deficit at €877 million after two months of 2014

SLOVAKIA’s state budget deficit after the first two months of this year is €877.07million. In an annual comparison, the deficit widened by 22.9 percent, when at the end of February last year the budget deficit was €713.4 million.

SLOVAKIA’s state budget deficit after the first two months of this year is €877.07
million. In an annual comparison, the deficit widened by 22.9 percent, when at the end of February last year the budget deficit was €713.4 million.

Overall budget revenue increased by 10.7 percent to €1.682 billion this year and expenses increased by 14.6 percent to €2.559 billion. The Finance Ministry released these figures on March 3.

Tax revenue increased year-on-year by 10.1 percent to €1.414 billion. Value-added tax revenue developed positively, with revenue being higher by €130.4 million than last year, the Finance Ministry’s figures show, as reported by the SITA newswire.

The revenue for excise taxes increased by €6.3 million and personal income tax by €11.2 million. Corporate income tax revenue on a cash basis was lower by €11 million and from withholding income tax by €7.4 million.

Also lower were receipts from the EU budget, where the annual drop was 85 percent, by €125.8 million to €22.2 million. State budget revenue from dividends increased over the previous year by €39 million. Within other revenue items of the state budget there was an annual increase of 139.5 percent, from about €120.5 million to €206.9 million.

Within total expenditures, the cost of government debt service rose by €180.9 million to €498.3 million.

In the categories of budget expenditures related to the absorption of funds from the EU budget, there was a drop of €3.8 million to €127.9 million, while at the same time the need for co-financing decreased by €2.5 million to €22.6 million.

A transfer to the EU budget declined by €7.6 million to €229.9 million, mainly due to payment of an obligation for the year 2012 amounting to €19.6 million in January 2013.

The transfer of the account of social security agency Sociálna Poisťovňa was up by €52.9 million to €173.1 million, which according to the Finance Ministry is in line with the draft budget for 2014. Other expenditures of the state budget increased by €106.8 million to €1.507 billion.

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

Journalists should resist the temptation to tweet

There is still a need for old-fashioned news reporters who just get the facts out there, says Pulitzer Prize-winning journalist Ian Johnson.

Ian Johnson

We refuse Fico's attacks against journalists

More than 330 journalists have signed a statement condemning the most recent verbal attacks of the former prime minister against journalists.

Slovak journalists at one of protest rallies organised in response to the murder of journalist Ján Kuciak and his fiancée.

UPDATED: Police investigate protest organisers over Soros allegations

The National Criminal Agency wants to see the accounts of the protest organisers due to a criminal complaint alleging they are paid by George Soros.

All eyes on Humenné: The symbol of Smer's decline

The loss of Smer's Jana Vaľová in the mayoral race has become symbolic of the 2018 municipal vote.

Jana Vaľová