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.

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.

Topic: Economics


Top stories

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

"Pick your own" strawberries in November Photo

There are about three tonnes near Piešťany. They are hard but still sweet.

November strawberries

Tom Odell surprised Slovak band in Bratislava Video

The British artist was wearing a T-shirt, presented to him by the Tolstoys, from start to finish at his Bratislava concert.

Tom Odell