Finance Ministry Submits to Tripartite Draft Budget with Deficit of 4.7% of GDP

Bratislava, October 10 (TASR) - The public finance deficit is to fall to 4.7 percent of gross domestic product (GDP) next year, to 3.7 percent of GDP in 2026 and to 3 percent of GDP in 2027, according to the draft general government budget for the next three years submitted by the Finance Ministry to the meeting of the Economic and Social Council (the tripartite) on Monday (October 14). At the same time, the ministry expects the general government economy to end this year better than the approved budget by €250 million or 0.2 percent of GDP, bringing the deficit to €7.6 billion or 5.8 percent of GDP. According to the ministry, additional consolidation measures amounting to 1.9 percent of GDP need to be introduced by 2027 to achieve the planned gradual decline in the deficit. "The consolidation measures presented by the government ensure the achievement of the target in 2025. For 2026 and 2027, the deficit of the currently set budget is higher by 0.4 percent and 1.9 percent of GDP, respectively," stated the Finance Ministry. Total revenue of the general government budget is expected to reach €59.9 billion or 42.8 percent of GDP next year, while total expenditure is budgeted at €66.5 billion or 47.5 percent of GDP. am/mcs