Slovakia: Budget Deficit Comes at 4.6%

BusinessEconomy ♦ Published: December 20, 2012; 19:47 ♦ (Vindobona)

This year, the Slovak budget deficit is expected to be significantly beyond the Maastricht criteria.

Slovakia: Budget Deficit Comes at 4.6% / Picture: ©

According to the Slovak government, the budget deficit will come at 4.62% of GDP this year. This is slightly below the initial expectations of 4.64%.

Despite the austerity course, the Maastricht criteria will be violated, however. This is mainly due to the weaker tax collection. At the beginning of December, OECD´s Secretary General Angel Gurria called Slovakia to improve its…