Spectator on facebook

Spectator on facebook

FinMin: State budget deficit at €420.6 mn, down 65% y-o-y

The state budget posted a deficit of €420.6 million at the end of October, down €784.9 million (65.1 percent) on an annual basis.

(Source: Sme)

State expenditure was down by €1.677 billion, or 12.7 percent year-on-year. State budget revenues decreased by €892 million, the Finance Ministry informed the TASR newswire on November 2.

Tax revenues rose by €637 million y-o-y, which was an increase of 7.4 percent y-o-y. Positive developments were seen for almost all taxes, including corporate tax, with an increase amounting to €627 million; excise taxes – €67 million, withholding tax – €12 million, and international trade and transaction tax – €1.4 million.

“Slight declines were reported only for VAT and income taxes paid by private individuals,” the Finance Ministry stated.

Revenues from administrative fees posted a moderate growth of €11.5 million y-o-y. Conversely, capital revenues were down €1.1 million y-o-y.

Expenditures related to servicing the state debt posted a drop of €126 million y-o-y, while expenditures related to drawing EU funds fell by €1.506 billion, including a co-funding saving amounting to €287 million.

Against September, the October deficit was lower by almost €224 million, the SITA newswire wrote.

The reason behind the decline in overall revenues may be the money from European Union resources – which was 54.2 percent, or €1.057 billion lower. Also the revenues from dividends were lower, at almost a half - €222.2 million.

Topic: Economics


Top stories

Voters don’t understand self-governing regions

Rules for regional elections change, which may bring some surprising victories.

One of the biggest fights is expected in Banská Bystrica Region.

Sagan rewrites history Video

Cyclist Peter Sagan becomes the first man to win three consecutive world championships. He allegedly did not expect it and was easy with the idea he would not win.

Ballet legend Sergei Polunin will be guest of SND

The world-renowned personality of contemporary ballet will present two choreographies at the Slovak National Theatre in September.

Sergei Polunin

Blog: Why did I come here?

A group of teachers and students from the Bratislava-based school gathered to support their friend, colleague, and fellow foreigner, as she had already tried four times just to get in the door of the foreign police.

Queue in front of the foreigners' police department in Bratislava.