FinMin: Slovakia’s State Budget Deficit at €551 million in Late April

state budget in April 2018 (photo by TASR)

Bratislava, May 2 (TASR) – Slovakia’s state budget posted a deficit of €551 million at the end of April, €84 million lower than the deficit for the same period last year, the Finance Ministry reported on Wednesday.

Both state budget incomes and expenditures reported a growth as of late April. In particular, incomes grew by €282 million year-on-year, while expenditures swelled by €198 million y-o-y.

According to the Finance Ministry, a y-o-y increase in tax revenues amounted to €141.3 million. “Positive developments were seen in the collection of corporate income tax, going up by €63.4 million, while the collection of VAT went up €56.5 million, withholding tax – €11.5 million and excise taxes – €7.2 million,” stated the ministry. Conversely, revenues from income tax paid by private individuals posted a fall of €1.7 million over the monitored period.
State budget incomes from the EU budget went up by €126.5 million y-o-y.

Expenditures on debt servicing decreased by €26.7 million y-o-y in April. A y-o-y growth of €112.9 million was seen in the category of state budget expenditures related to the drawing of resources from the EU budget, which meant a €16.2-million increase in cofinancing funds.