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Public Finances Gap Puts Slovakia Alongside Countries at EU Tail-End
Friday 22 Octtber 2010 Zoom in | Print page
Bratislava, October 22 (TASR) - Slovakia's 2009 public finances deficit reported by the Statistics Office on Friday at 7.9 percent of gross domestic product puts Slovakia alongside the European Union's worst-performing countries Portugal, Ireland, Greece and Spain (PIGS), said the finance ministry in reaction.
The 7.93 percent gap forwarded to European Union Eurostat was revised as of October 1 by the Stats Office from this past spring's estimate of 6.77 percent of GDP.
Spokesman for the ministry Martin Jaros said that Slovakia expects a similarly high deficit for this year of 7.8 percent of GDP as opposed to 5.5 percent projected by the previous representatives of the ministry. The package of recovery measures is intended to rein in the growth of new debt to 4.9 percent.
Finance Minister Ivan Miklos (SDKU-DS) said already last month that the 2009 public finance deficit would be nearly 8 percent rather than the 6.8 percent of GDP as calculated by the former finance ministry.
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