2015 Budget passes Parliament

Slovakia has an approved budget for next year. MPs of the SMER party dominant in Parliament voted in its favour and passed it on Thursday. The budget passed with a number of amendments that were drawn up after the government's first draft was put forward in Parliament. Apart from financial coverage, changing the tax deductable item for low earners, the budget also defines an increase in the salaries of teachers and other employees in public administration. In comparison to the first draft of the budget, the approved version grants extra finances to the Health Care Ministry. The Environment Ministry also received an extra 15 million EUR for anti-flood measures as well as the Transport Ministry which received an extra 20 million EUR. Extra finances in smaller sums will also go to the Economy Ministry to build industrial zones and the President's Office for the restoration of the Presidential villa and for other purposes. Among the amended changes are also finances that will be shifted from the education department to the Slovak Academy of Sciences. The budget has also built a reserve in the case of any negative macro-economic developments. The original budget for 2015 envisioned public deficit at 1.98 % of GDP, however due to the amendments passed, this will not be the case with the approved version of the budget.