State budget deficit at €1.3 billion in June

Some constitutional officials will have their salaries frozen also next year, meaning they will remain at their 2011 levels. The proposal was submitted to the Cabinet by Finance Minister Peter Kažimír. According to the justification report the finance department continues seeking gradual reduction of the general government deficit and achieving a balanced budget, which is the reason why consolidation measures have to continue also in 2016, reasons the ministry. The approved salary freeze, however, will not concern judges and prosecutors, brings the Sme daily. The state budget deficit stood at €1.3 billion at the end of June, which amounts to a year-on-year deficit cut of over €626 million or almost 32 percent. According to the Finance Ministry positive development "was recorded with income growth for corporate tax, for VAT and for excise tax. Furthermore the Finance Ministry claims positive development was also recorded in expenditures on administering the state debt.