Slovakia expects slightly smaller 2011 budget gap on lowered GDP forecast.

By bne IntelliNews December 5, 2011
Slovakias finance ministry expects to end the year with a budget gap, which is by EUR 87mn smaller than originally projected, owed to the lowered GDP growth forecast, SITA news agency reported. The latest prognosis for the 2011 GDP growth is 3%, compared to 3.3% set in the 2011 budget plan. Slovakias end-November budget shortfall reached EUR 2.67bn and the original end-2011 target is set at EUR 3.81bn, equal to 4.9% of the GDP, down from a 7.9% deficit in 2010. The cabinet has proposed a budget with a 4.6% deficit for next year, leaving its initial plan to squeeze the shortfall to 3.8% of GDP, due to the deepening debt crisis in the eurozone.
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