Government Increases Both State-budget Incomes and Expenditures by €1.5 bn

Bratislava, September 26 (TASR) – State-budget incomes will amount to €21.471 billion this year, while expenditures should stand at €26.945 billion, according to an amendment to the State Budget Act approved by the Government at its online session on Monday.

The Finance Ministry has thus increased both incomes and expenditures by €1.5 billion when compared to the originally approved budget.

At the same time, Eduard Heger’s Cabinet asked Parliament to deal with the amendment via a short-track procedure.

“The draft amendment to the law on the 2022 state budget takes into account the September forecast of the Tax Prognoses Committee. As a result of growth in tax revenues, total budget revenues will increase by €1.5 billion,” stated the Finance Ministry in its explanatory report. At the same time, total budget expenditures will increase by €1.5 billion in reaction to the rapid growth in energy prices, inflation and the military conflict in Ukraine. “As a result of higher anticipated revenues, space has been created to cover measures to mitigate the aforementioned impacts,” stated the ministry.

“The proposed adjustments won’t change the level of the projected state-budget deficit,” added the ministry.