Slovak News Back to the news
Despite Projections State Insurer SP Ended 2009 Deep in the Red
Monday 14 June 2010 Zoom in | Print page
Bratislava, June 14 (TASR) - State-run insurer Socialna Poistovna (SP) ended 2009 with a budget deficit of €320.82 million, while a surplus of €78.62 million was originally predicted. This is according to a proposal of the report on public administration's financial management in 2009 as released by the Finance Ministry on Monday.
Less-than-projected collection of insurance payments and higher expenditure are to blame for the deficit. The difference between planned and actual insurance premium payments stood at €592.14 million, while expenditures were €276.69 higher than was foreseen. The shortage of funds collected was made up for by the state, which provided an extra €370.75 million to shore up SP.
SP's revenues were eventually higher than planned - by 17.9 percent - and amounted to €6.63 billion. Expenditures were higher by 25.4 percent and amounted to €6.96 billion.
All rights reserved. Any publishing or further dissemination of press releases and photographs from TASR's resources without TASR's prior written approval constitutes a violation of the Copyrights Act.
