State expenses grow faster than revenues

SLOVAKIA’s state budget deficit after the first seven months of this year reached €2.153 billion. It swelled by 32.4 percent in yearly terms and rose by over €180 million just in July alone.

SLOVAKIA’s state budget deficit after the first seven months of this year reached €2.153 billion. It swelled by 32.4 percent in yearly terms and rose by over €180 million just in July alone.

Revenues of the state budget increased by the end of July by 3 percent to €6.356 billion, while expenses grew 9.1 percent to €8.509 billion. Revenues for the whole year are expected to reach €14.108 billion, while expenses should total €17.392 billion, according to the SITA newswire.

Tax revenues have grown by 2.1 percent to €5,162 billion since the beginning of the year, while VAT collection has especially improved, as well as income from dividends. The only negative development was in resources stemming from EU funds, which decreased from €337.4 million to €330.2 million in a year-on-year comparison.

“Lower transfers were the result of temporary suspension of payments within some operational programs,” said the Finance Ministry, as quoted by SITA. “The European Commission might decide on unblocking interim payments in the fall.”

Compiled by Spectator staff from press reports
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