RRZ Expects Slightly Lower Deficit Next Year Than Government at 4.5% of GDP

Bratislava, November 14 (TASR) - The public-finance deficit in Slovakia should reach 4.5 percent of GDP next year, the Budgetary Responsibility Council (RRZ) has estimated after assessing the government's draft budget, which still needs to be approved by Parliament. The cabinet's draft budget expects a deficit of 4.7 percent of GDP, but, according to RRZ, achieving this deficit is realistic only if the government refrains from tapping the reserve for new spending. In order to stabilise the debt by the end of the electoral term, which is the government's stated objective, the deficit would need to be reduced to 2.5 percent of GDP, RRZ opined. This is because the economy is expected to grow more slowly in the future. zel/df