Slovak govt approves budget for 2020; deficit to stand at 0.49 pc of GDP

The Government on Monday approved a draft budget drawn up by the Finance Ministry for upcoming years, according to which the general government deficit in 2020 should stand at 0.49 percent of GDP and at the same time admitted that the original goal of a balanced state budget for 2019 won't be reached as the general government deficit should stand at 0.68 percent of GDP. Total income of the public sector for 2020 is budgeted at the level of 38.87 billion euros while total expenditure should stand at 39.35 billion euros, meaning that there should be a deficit of 480 million euros. The state budget is expected to manage a cash deficit of 2.68 billion euros. Total state income is projected to reach the level of 15.89 billion euros; and expenditure should be 18.57 billion euros.