RRZ Slightly Reduces Deficit Estimate by €22 million, It Remains at 4.8% of GDP

Bratislava, March 31 (TASR) - The Budget Responsibility Council (RRZ) has adjusted the estimated level of the deficit of the Slovak public finances for this year only slightly in March; compared to the previous forecast in February, the deficit fell slightly by €22 million, mainly due to lower health spending and higher tax revenues. According to RRZ, the deficit is expected to reach 4.8 percent of gross domestic product (GDP) this year, or €6.6 billion, the same as the Council expected last month. The negative deviation from the government's budget target amounts to 0.1 percent of GDP or €129 million. This implies a low risk to the achievement of the approved budget. "Despite the positive month-on-month change, the most significant negative deviation in the RRZ estimate from the budget continues to be the shortfall in tax and levy revenues, in particular lower expected revenues from value added tax (VAT) and corporate income tax," said the council. am