BRATISLAVA, April 2, (WEBNOVINY) — The state budget of the Slovak Republic ended the first quarter of this year with a deficit of EUR 1.155 billion. At the end of February the deficit was EUR 846 million, while in a year-on-year comparison, the deficit at the end of March was higher by EUR 500 million. According to the Ministry of Finance, revenues of the state budget at end of March fell 10.3 percent year-on-year to EUR 2.468 billion, while spending rose 6.3 percent to EUR 3.623 billion. From the year’s planned revenues, the treasury collected 18.1 percent by the end of March, while spending amounted to 20.9 percent of the year’s plan. The Ministry of Finance says that the general government deficit this year will be lower than the planned 4.6 percent of GDP. „On the basis of revenues and expenditures of the state budget for the first three months and the effects of other items in general government finances expected in 2012, we expect the deficit at 4.4 percent of GDP,“ the ministry announced.
According to the Ministry of Finance, the lower collection revenues compared with the same period of last year concerns in particular transfers from the EU budget, where the difference is EUR 251 million. „This is related to two factors, namely the suspension of payments by the EU in three operational programs and temporary solvency problems of the European Commission itself. These sources will come into the state budget with a delay, but without an impact on the deficit in 2012 according to ESA 95 methodology,“ says the Ministry of Finance. Tax revenue at the end of March reached EUR 1.933 billion, which is about 3 percent less than last year.
SITA
