FinMin: State Budget Deficit Down by One Third Y-o-Y to €3.4 billion in October

Bratislava, November 4 (TASR) - The state-budget deficit amounted to €3.404 billion at the end of October 2024, the Finance Ministry reported on Monday, adding that the budgetary performance thus improved by more than one third (34.4 percent), or by €1.787 billion year-on-year (y-o-y). State-budget income increased by €1.037 billion, or by 5.8 percent y-o-y, to €18.807 billion in October. Meanwhile, expenditure fell by €750 million, or 3.3 percent y-o-y, to €22.212 billion. Tax revenues grew by €801.6 million in October. "Positive developments were seen in incomes from value-added tax, which went up by €184.9 million, excise taxes (up €112 million) and withholding tax (up €97.5 million)," said the ministry. The special levy from businesses in regulated branches saw record growth of €423.3 million y-o-y, while the solidarity contribution from activities in the oil, natural gas, coal and refinery sectors fell by €387.7 million. Corporate tax went up by €382.1 million y-o-y in October. Conversely, revenues from personal income tax declined by €21.9 million. The cost of state-debt servicing rose by €223.3 million in the tenth month of the year. State-budget expenditure related to drawing EU funds saw a y-o-y decrease of €662 million. Expenditure related to drawing money from the Recovery and Resilience Plan grew by €37.9 million y-o-y (-8.1 percent). Payment to the EU budget decreased by €129.2 million. ko/mcs