State Budget Shows 40.9% Deficit in April
The Ministry of Finance released figures today showing that the deficit in the state budget was as high as 40.9% more in April this year than last year, as receipts increased by far less than expenses.
The large deficit was forecast, however, with the government planning to spend much more than year than last, meaning expenditure for the first four months of the year only account for 28.6% of the planned outlay.
On a more positive note, VAT collection was higher by EUR 42.2 million compared to the same month last year, as was the levying of excise taxes (EUR 13.5 million higher) and other items.
Slovakia also was a weaker net recipient of EU funding this year, with around EUR 260 million less allocated from the EU budget than the year before.