Finance Minister Peter Kažimír is planning to trim spending in the next year’s budget. The ministry is obliged to submit the draft budget to the Cabinet session before August 15. “We’re counting on profound savings on the side of budgetary expenses; the budget is still being negotiated, hence it is too early to comment at present,” spokesman for the Finance Ministry Radko Kuruc noted. Budget outlines disclosed earlier indicate that the ministry counts on a deficit reduction to below 2.6% of GDP next year. However, it has already been disclosed already that the Cabinet would need additional measures, since ruling out a raise in VAT.
Gavin Shoebridge
