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Budget Deficit Rose to €1.480 billion to End of April
Monday 03 May 2010 Zoom in | Print page
Bratislava, May 3 (TASR) - The budget deficit increased to €1.480 billion to the end of April after standing at €983 million at the end of March, the Finance reported Ministry on Monday.
In April 2009, the deficit reached €347 million.
According to the ministry, budget revenues to April reached €3.224 billion or 25.7 percent of the projected €12.531 billion for 2010 as a whole. State expenditures were €4.704 billion, or 28 percent of the projected amount for the whole year - 16.277 billion. The deficit for the whole of 2010 is planned to reach €3.746 billion.
The global crisis had a significant impact on the Slovak economy last year, which shrank by 4.7 percent, causing the public-finance deficit to rise from the projected 2.1 to 6.8 percent of GDP.
Because of this, the Government pledged to introduce a substantial consolidation of public finances as of 2010. According to the public administration budget for 2010-12 passed by Parliament in November 2009, the deficit should be reduced to 5.5 percent of GDP this year, to 4.2 percent in 2011, and below the 3-percent threshold set by European budget in 2012.
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