Slovakia’s Finance Ministry stated in its report on the National Reforms’ Programme for 2011-14 that the country will meet the deficit target for 2011 – a 3.2 percent reduction in the deficit to 4.9 percent of GDP, the TASR newswire reported. The report was submitted to the Slovak cabinet on December 19.
The ministry wrote that it will be of vital importance to continue budgetary consolidation in upcoming years and push the deficit under 3 percent in 2013.
"The currently submitted public administration budget doesn't contain appropriate measures to reduce the deficit in 2013 under 3 percent of GDP. Therefore, it is necessary to have the next government draft another set of measures to that end," states the document, as quoted by TASR.
Compiled by Zuzana Vilikovská from press reports
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