Slovakia’s public finance deficit could reach 4.5 percent of GDP this year, or 6.4 billion euros, the Council for Budget Responsibility estimates in its February report. This would mean a 0.4 percent deviation from the government’s target and a medium risk to fulfilling the approved budget if no new measures are adopted.
The higher estimate is mainly due to lower expected tax revenues, particularly from VAT and labor taxes, reflecting slower economic growth. Additional risks include higher spending by local governments and in healthcare, while better results from some public institutions may partly offset the gap.
Source: TASR
Patrícia Polakovičová, Photo: TASR
