Eurostat cuts Slovakia's 2014 budget deficit

Slovakia ended 2014 with better figures than expected, with Eurostat announcing in its 'autumn notification' that Slovakia's public-finance deficit reached 2.78 percent of GDP, instead of the 2.87 percent calculated in April. The Finance Ministry announced that improved figures were also reported for sovereign debt in 2014 - 53.47 percent of GDP, which is down from the computation in April of 53.58 percent. "The deficit level was influenced positively by updated data concerning revenues from taxes and deductions, the inclusion of the Fund for the Support of Education and the Recycling Fund in the public administration sector, as well as other modifications regarding ESA 2010 methodology", said the ministry. Slovakia's budget shortfall is the EU's 14th lowest and the eurozone's 9th lowest. The country's debt under the Maastricht criteria is the EU's 11th lowest and the eurozone's 5th lowest in these respective categories.