FinMin: Slovakia’s State Budget Deficit Down by 1.7% in April

(Stock photo by TASR/AP)

Bratislava, May 2 (TASR) – Slovakia’s state budget posted a deficit of €635.1 million at the end of April, down by €11 million (1.7 percent) year-on-year, the Finance Ministry reported on Tuesday.

The state budget expenditures fell over the same period by €117.3 million (2.5 percent) y-o-y. Meanwhile, the income also fell – by €106.3 million (2.6 percent).

At the same time the tax income was up by €249.5 million (7.7 percent) y-o-y. “Positive developments were seen with VAT – up by €297.5 million, in excise taxes – by €29 million, in withholding taxes – by €5.5 million and in the income tax paid by private individuals – by €1.5 million,” reported the ministry, adding that the corporate tax income was down by €89.5 million y-o-y.

Expenditures related to servicing the state debt fell by €3.2 million (0.5 percent). A y-o-y reduction of €157.7 million was seen in the category of state budget expenditures related to the absorption of resources from the EU budget.

Slovakia’s payments towards the EU budget decreased by €12.2 million y-o-y in April.