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Budget Fell Into Deficit of €780 million in February
Monday 01 March 2010 Zoom in | Print page
Bratislava, March 1 (TASR) - The state budget fell into a deficit of €780 million in February, after recording a surplus of €23 million in January, the Finance Ministry announced on Monday.
In February 2009, the budget posted a deficit of €185 million.
Budget revenues were up by 3.5 percent year-on-year at €1.461 billion in February 2010, or 11.7 percent of the expected sum for the whole year - €12.531 billion.
Budget expenditures went up by 40.5 percent y-o-y to €2.242 billion. This was 13.8 percent of the scheduled sum for the whole of 2010 - €16.277 billion.
The Government has promised an overall consolidation of public finances in 2010. The public-finance deficit should fall to 5.5 percent of GDP in 2010 and to 4.2 percent in 2011 according to a plan approved in November.
Slovakia should again meet a criterion of the Growth and Stability Pact, which requires public-finance deficit of no more than 3 percent, in 2012. Finance Minister Jan Pociatek believes that this plan is ambitious enough to be approved by the European Commission, which requires Slovakia to comply with the required threshold by 2013.
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