BRATISLAVA, December 2, (WEBNOVINY) – Slovakia’s state budget closed last year with cash deficit of EUR 3.811 billion. The Finance Ministry informed on Wednesday, that overall, budget revenues reached EUR 11.83 billion and expenditures EUR 15.641 billion. In the published commentary, the ministry says it managed to keep the deficit despite the shortfall in tax revenues amounting to EUR 764.3 million by active management of expenditures.
“According to the law on budgetary rules of the public administration it was possible to pose even a higher deficit in 2012 by EUR 60.8 million. The law thus was observed and, moreover, the Finance Ministry decided at the end of December to realize further expenditures to cover losses of railway companies from previous years at EUR 120 million,” stated the department. Its basic goal last year was to keep the deficit of the general government budget at 4.64 percent of GDP. “If no unexpectedly bad development in other items of the public administration occurs, such as self-governments, for example, the general government deficit in 2012 will achieve the budgeted level even despite the considerable shortfall in revenues and worsened development of the European and Slovak economy,” states the ministry.
SITA