Slovakia’s budget deficit tripled in the fiscal year to the end of October, the Finance Ministry reported. Income rose significantly to about 18 billion; but expenditures grew to 23 billion. That gap of five billion euros is roughly three times as big as the deficit of the year before.
Revenue from income tax went up, as did income from the EU budget. But not enough to compensate for rising expenditures. The press reports and the statement of the Finance Ministry do not explain what caused the jump in public spending.
Finance Minister Ladislav Kamenicky said the government is working to present a budget for the next year before year-end. He said it would try to reduce the deficit by a half percent, as promised, but he couldn’t guarantee it.
(TASR)
