Slovakia's budget gap narrows 8% y/y to EUR 656mn at end-Feb 2014

By bne IntelliNews March 3, 2014

Slovakia's state budget deficit narrowed 8% y/y to EUR 656.4mn at the end of February 2014 with revenues rising much faster than spending, data from the finance ministry showed on March 3. The budget gap equalled to 20% of the projected full-year GDP according to IntelliNews calculations.

Budget revenue increased 5.6% y/y to EUR 1.6bn in February. The growth was supported by a 5.7% y/y rise in tax revenue, which is the main source of budget income, and a more than two-fold in non-tax revenue. Budget expenditure rose 1.2% y/y to EUR 2.26bn in February.

The Slovak government targets an end-2014 budget deficit of EUR 3.28bn, based on revenue of EUR 14.1bn and expenditure of EUR 17.39bn. The budget gap is projected to shrink to 2.64% of GDP, below the EU's 3.0% of GDP ceiling.

thousands EUR end-Jan 2014 end-Jan 2013 end-2014 target y/y change % of target
REVENUE 1,603,492 1,518,700 14,108,312 5.6% 11.4%
--tax revenue 1,357,016 1,284,268 8,690,538 5.7% 15.6%
--non-tax revenue 222,145 84,192 1,397,769 163.9% 15.9%
--grants and transfers 24,331 150,240 4,020,005 -83.8% 0.6%
----receipts from EU budget 22,225 148,067 3,173,198 -85.0% 0.7%
EXPENDITURE 2,259,860 2,232,084 17,391,917 1.2% 13.0%
--current expenditure 2,161,731 2,130,603 14,863,248 1.5% 14.5%
--capital expenditure 98,129 101,481 2,528,669 -3.3% 3.9%
BALANCE -656,368 -713,384 -3,283,605 -8.0% 20.0%
Source: Ministry of Finance of the Slovak Republic      

Related Articles

RBI doubles net profit y/y in Q1 as Russian business recovers

Raiffeisen Bank International (RBI), the second largest bank operating across Central and Eastern Europe by assets, reported that net profit almost doubled year-on-year to €220mn in the first ... more

Poland secures key permit for gas link with Slovakia

Polish state-owned gas grid operator Gaz-System has secured an environmental permit for the construction of a gas pipeline that will be part of a planned gas link with Slovakia, Gaz-System announced ... more

Labour shortage taking on crisis proportions, warns Slovak PM

The growing labour shortage bears the hallmarks of a crisis, Slovak Prime Minister Robert Fico said on April 4. While keen to boast of the health of the economy under his continued watch, Fico was ... more

Register here to continue reading this article and 2 more for free or purchase 12 months full website access including the bne Magazine for just $119/year.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

Thank you. Please complete your registration by confirming your email address.
A confirmation email has been sent to the email address you provided.

To continue viewing our content you need to complete the registration process.

Please look for an email that was sent to with the subject line "Confirmation bne IntelliNews access". This email will have instructions on how to complete registration process. Please check in your "Junk" folder in case this communication was misdirected in your email system.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

If you have any questions please contact us at sales@intellinews.com

Subscribe to bne IntelliNews website and magazine

Subscribe to bne IntelliNews website and monthly magazine, the leading source of business, economic and financial news and commentary in emerging markets.

Your subscription includes:
  • Full access to the bne content daily news and features on the website
  • Newsletters direct to your mailbox
  • Print and digital subscription to the monthly bne magazine
  • Digital subscription to the weekly bne newspaper

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

bne IntelliNews
$119 per year

All prices are in US dollars net of applicable taxes.

If you have any questions please contact us at sales@intellinews.com

Register for free to read bne IntelliNews Magazine. You'll receive a free digital subscription.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

Thank you. Please complete your registration by confirming your email address.
A confirmation email has been sent to the email address you provided.

IntelliNews Pro offers daily news updates delivered to your inbox and in-depth data reports.
Get the emerging markets newswire that financial professionals trust.

"No day starts for my team without IntelliNews Pro" — UBS

Thank-you for requesting an IntelliNews Pro trial. Our team will be in contact with you shortly.

Dismiss