MPs approve state budget with 0.49% deficit

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MPs approve state budget with 0.49% deficit

03. 12. 2019 15:12

Parliament has approved the state budget for next year and the budget of public administration for the years 2020 to 2022. According to the approved proposal, Slovakia should manage the public finance deficit at 0.49% of gross domestic product next year. MPs made a few changes to the original draft. For example, the expenditures chapter of the Ministry of Labor increases by €80.5 million due to an adjustment to the level of minimum old age pensions. The changes also took into account a loss of income in the amount of €101.8 million due to dropping the proposal to increase the excise duty on tobacco products. The amendment also included €114.1 million on the revenues side, resulting from the controversial doubling of a special levy that banks are asked to pay.

Anca Dragu, Photo: TASR

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