Miklos Discloses Draft 2012-2014 Budget

Finance minister Ivan Miklos (c) The Daily

Finance minister Ivan Miklos unveiled the first draft of the 2012-2014 Budget at a press conference yesterday, with the final balance in 2012 producing a EUR 3.1 billion deficit.

Budget receipts are projected to rise by 16% in 2012 to EUR 15.3 billion, while expenditures should increase by around 8% to EUR 18.4 billion. The deficit gap will therefore shrink to 3.8% of the GDP, compared to the 4.9% or so this year.

Miklos said confidently that with the budget “we are creating the conditions for healthy economic development, employment growth and the living standard”.

Miklos will still have to go through a lot of haggling with individual ministers on the final shape of the budgetary chapters, as the current draft only contains basic priorities in transport infrastructure and education. Spokesman for the ministry Martin Jaros informed The Daily that the full draft budget will be released later today.

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