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Slovak Central Budget Gap Shrinks on Year to 2.7 Billion Euros

Slovakia’s 11-month central budget deficit shrank to 2.7 billion euros ($3.6 billion) from 3.5 billion euros in the same period last year, the Finance Ministry said.

The gap represents 70 percent of the full-year target of 3.81 billion euros and compares with a deficit of 2.34 billion euros at the end of October, according to Finance Ministry’s website.

The Slovak government targets reducing the deficit of the entire public sector, which on top of the central budget includes balances of welfare funds and other state entities, to 4.9 percent of the gross domestic product from 7.7 percent of GDP in 2010.

The central government’s expenditures fell to 12.9 billion euros from 13 billion euros in January-November 2010, while revenue rose to 10.2 billion euros from 9.53 billion euros.

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