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FinMin: State budget posted deficit of €2.3 billion in November

SLOVAKIA’s state budget posted a deficit of €2.3 billion as of the end of November, the Finance Ministry announced on December 1. Revenues were up by €309.7 million year-on-year, while expenditures increased by €651.7 million, the TASR newswire reported.

SLOVAKIA’s state budget posted a deficit of €2.3 billion as of the end of November, the Finance Ministry announced on December 1. Revenues were up by €309.7 million year-on-year, while expenditures increased by €651.7 million, the TASR newswire reported.

“The proportion of state budget expenditures reached only 75.4 percent [of the yearly projection], which was 8.7 percentage points lower than last year,” said the ministry, as quoted by TASR.

The ministry recorded an increase in tax revenues from most types of taxes, mainly from VAT (up by €130.2 million) and excise tax (up by €29.7 million). Revenues from dividends increased by €410.1 million on an annual basis.

Conversely, negative developments were observed when it came to income from EU funds, as this category posted an annual fall of €470.4 million. The lower figure was due to a temporary suspension of payments within some operational programmes, according to the ministry.

The remaining categories of state budget revenues rose by €278.8 million on an annual basis. This was mainly due to payments to the Regulatory Authority for Electronic Communications and Postal Services from mobile network operators for licences for the use of frequency bands (€163.9 million).

Expenditures incurred in servicing the state debt rose by €92.3 million on an annual basis.

Source: TASR

Compiled by Roman Cuprik from press reports
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