{"id":10487,"date":"2021-10-22T15:18:44","date_gmt":"2021-10-22T13:18:44","guid":{"rendered":"https:\/\/www.rrz.sk\/?p=10487"},"modified":"2023-06-21T15:07:09","modified_gmt":"2023-06-21T13:07:09","slug":"budgetary-traffic-light-2021-09","status":"publish","type":"post","link":"https:\/\/www.rrz.sk\/en\/budgetary-traffic-light-2021-09\/","title":{"rendered":"Secretariat of the CBR (SoCBR) adjusts the deficit estimate only minimally"},"content":{"rendered":"<p><img loading=\"lazy\" decoding=\"async\" width=\"1500\" height=\"410\" class=\"alignnone size-full wp-image-10504\" src=\"https:\/\/www.rrz.sk\/wp-content\/uploads\/2021\/10\/TL_202109-2.png\" alt=\"\" srcset=\"https:\/\/www.rrz.sk\/wp-content\/uploads\/2021\/10\/TL_202109-2.png 1500w, https:\/\/www.rrz.sk\/wp-content\/uploads\/2021\/10\/TL_202109-2-300x82.png 300w, https:\/\/www.rrz.sk\/wp-content\/uploads\/2021\/10\/TL_202109-2-1024x280.png 1024w, https:\/\/www.rrz.sk\/wp-content\/uploads\/2021\/10\/TL_202109-2-768x210.png 768w, https:\/\/www.rrz.sk\/wp-content\/uploads\/2021\/10\/TL_202109-2-480x131.png 480w, https:\/\/www.rrz.sk\/wp-content\/uploads\/2021\/10\/TL_202109-2-992x271.png 992w, https:\/\/www.rrz.sk\/wp-content\/uploads\/2021\/10\/TL_202109-2-1200x328.png 1200w\" sizes=\"auto, (max-width: 1500px) 100vw, 1500px\" \/><\/p>\n<ul>\n<li>SoCBR has slightly reduced the estimate of the GGB deficit in 2021, the change compared to the August forecast is about EUR 38 mil. The deficit improvement is due to higher tax revenue, in particular faster growth rate of VAT and CIT revenues. Under assumption that the government does not take additional measures, the GGB deficit can reach the level of EUR 6.873 bn. (7.1% of GDP).<\/li>\n<li>The deviation of the expected GGB deficit from the current government estimate is positive in the amount of EUR 1.637 bn. (1.7% of GDP), which means that the risk of a deficit rising above the level assumed by the government is low. However, the expected evolution of public finances is still affected by high uncertainty due to the ongoing pandemic and its implications for macroeconomic development.<\/li>\n<li>Due to the approval of the amendment to the State Budget Act, the deficit target from the original budget of 7.4% of GDP is not relevant. For this reason, CBR does not evaluate the deviation of the expected deficit from the original budget (starting from the June forecast). The current government estimate published in August 2021 assumes the GGB deficit of 8.8% of GDP.<\/li>\n<li>Compared to government expectations, we estimate the most significant positive impact on the general government balance in state budget expenditures. Saving of EUR 702 mil. (0.7% of GDP) is mainly due to a slower absorption of capital expenditures and expenditures on goods and services, as the low growth rate observed during the first eight months does not correspond to the high level of year-end expenditures projected by the government.<\/li>\n<li>Pandemic government measures in the current forecast amount to a total of EUR 3.012 bn. (3.1% of GDP). In comparison to the government&#8217;s estimate, the budgetary impact is lower by EUR 343 mil. (0.4% of GDP). Expenditures in the amount of EUR 133 mil. (0.1% of GDP) should be financed from EU funds.<\/li>\n<\/ul>\n<p>Please see the attached files for more information.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>SoCBR has slightly reduced the estimate of the GGB deficit in 2021, the change compared to the August forecast is about EUR 38 mil. The deficit improvement is due to higher tax revenue, in particular faster growth rate of VAT and CIT revenues. Under assumption that the government does not take additional measures, the GGB [&hellip;]<\/p>\n","protected":false},"author":6,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"h5ap_radio_sources":[],"footnotes":""},"categories":[112,158],"tags":[117,116,219],"class_list":["post-10487","post","type-post","status-publish","format-standard","hentry","category-issued-in-2021","category-publications","tag-budgetary-traffic-lights","tag-fiscal-forecasts","tag-general-government-budget"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Secretariat of the CBR (SoCBR) adjusts the deficit estimate only minimally - Rada pre rozpo\u010dtov\u00fa zodpovednos\u0165<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.rrz.sk\/en\/budgetary-traffic-light-2021-09\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Secretariat of the CBR (SoCBR) adjusts the deficit estimate only minimally - Rada pre rozpo\u010dtov\u00fa zodpovednos\u0165\" \/>\n<meta property=\"og:description\" content=\"SoCBR has slightly reduced the estimate of the GGB deficit in 2021, the change compared to the August forecast is about EUR 38 mil. The deficit improvement is due to higher tax revenue, in particular faster growth rate of VAT and CIT revenues. Under assumption that the government does not take additional measures, the GGB [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.rrz.sk\/en\/budgetary-traffic-light-2021-09\/\" \/>\n<meta property=\"og:site_name\" content=\"Rada pre rozpo\u010dtov\u00fa zodpovednos\u0165\" \/>\n<meta property=\"article:published_time\" content=\"2021-10-22T13:18:44+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-06-21T13:07:09+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.rrz.sk\/wp-content\/uploads\/2021\/10\/TL_202109-2.png\" \/>\n<meta name=\"author\" content=\"\u017dofia\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"\u017dofia\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.rrz.sk\/en\/budgetary-traffic-light-2021-09\/\",\"url\":\"https:\/\/www.rrz.sk\/en\/budgetary-traffic-light-2021-09\/\",\"name\":\"Secretariat of the CBR (SoCBR) adjusts the deficit estimate only minimally - Rada pre rozpo\u010dtov\u00fa zodpovednos\u0165\",\"isPartOf\":{\"@id\":\"https:\/\/www.rrz.sk\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.rrz.sk\/en\/budgetary-traffic-light-2021-09\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.rrz.sk\/en\/budgetary-traffic-light-2021-09\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.rrz.sk\/wp-content\/uploads\/2021\/10\/TL_202109-2.png\",\"datePublished\":\"2021-10-22T13:18:44+00:00\",\"dateModified\":\"2023-06-21T13:07:09+00:00\",\"author\":{\"@id\":\"https:\/\/www.rrz.sk\/#\/schema\/person\/110076e5e6bb2bd49456f9780d112304\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.rrz.sk\/en\/budgetary-traffic-light-2021-09\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.rrz.sk\/en\/budgetary-traffic-light-2021-09\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.rrz.sk\/en\/budgetary-traffic-light-2021-09\/#primaryimage\",\"url\":\"https:\/\/www.rrz.sk\/wp-content\/uploads\/2021\/10\/TL_202109-2.png\",\"contentUrl\":\"https:\/\/www.rrz.sk\/wp-content\/uploads\/2021\/10\/TL_202109-2.png\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.rrz.sk\/en\/budgetary-traffic-light-2021-09\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Domovsk\u00e1 str\u00e1nka\",\"item\":\"https:\/\/www.rrz.sk\/en\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Secretariat of the CBR (SoCBR) adjusts the deficit estimate only minimally\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.rrz.sk\/#website\",\"url\":\"https:\/\/www.rrz.sk\/\",\"name\":\"Rada pre rozpo\u010dtov\u00fa zodpovednos\u0165\",\"description\":\"Nez\u00e1visl\u00fd org\u00e1n monitorovania a hodnotenia v\u00fdvoja hospod\u00e1renia Slovenskej republiky\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.rrz.sk\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.rrz.sk\/#\/schema\/person\/110076e5e6bb2bd49456f9780d112304\",\"name\":\"\u017dofia\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.rrz.sk\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/92204a039000e687ecdf92a58f2978d0ff94fb9e7e5be808f35e875503368d46?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/92204a039000e687ecdf92a58f2978d0ff94fb9e7e5be808f35e875503368d46?s=96&d=mm&r=g\",\"caption\":\"\u017dofia\"},\"url\":\"https:\/\/www.rrz.sk\/en\/author\/majdekova\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Secretariat of the CBR (SoCBR) adjusts the deficit estimate only minimally - Rada pre rozpo\u010dtov\u00fa zodpovednos\u0165","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.rrz.sk\/en\/budgetary-traffic-light-2021-09\/","og_locale":"en_US","og_type":"article","og_title":"Secretariat of the CBR (SoCBR) adjusts the deficit estimate only minimally - Rada pre rozpo\u010dtov\u00fa zodpovednos\u0165","og_description":"SoCBR has slightly reduced the estimate of the GGB deficit in 2021, the change compared to the August forecast is about EUR 38 mil. The deficit improvement is due to higher tax revenue, in particular faster growth rate of VAT and CIT revenues. Under assumption that the government does not take additional measures, the GGB [&hellip;]","og_url":"https:\/\/www.rrz.sk\/en\/budgetary-traffic-light-2021-09\/","og_site_name":"Rada pre rozpo\u010dtov\u00fa zodpovednos\u0165","article_published_time":"2021-10-22T13:18:44+00:00","article_modified_time":"2023-06-21T13:07:09+00:00","og_image":[{"url":"https:\/\/www.rrz.sk\/wp-content\/uploads\/2021\/10\/TL_202109-2.png","type":"","width":"","height":""}],"author":"\u017dofia","twitter_card":"summary_large_image","twitter_misc":{"Written by":"\u017dofia","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.rrz.sk\/en\/budgetary-traffic-light-2021-09\/","url":"https:\/\/www.rrz.sk\/en\/budgetary-traffic-light-2021-09\/","name":"Secretariat of the CBR (SoCBR) adjusts the deficit estimate only minimally - Rada pre rozpo\u010dtov\u00fa zodpovednos\u0165","isPartOf":{"@id":"https:\/\/www.rrz.sk\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.rrz.sk\/en\/budgetary-traffic-light-2021-09\/#primaryimage"},"image":{"@id":"https:\/\/www.rrz.sk\/en\/budgetary-traffic-light-2021-09\/#primaryimage"},"thumbnailUrl":"https:\/\/www.rrz.sk\/wp-content\/uploads\/2021\/10\/TL_202109-2.png","datePublished":"2021-10-22T13:18:44+00:00","dateModified":"2023-06-21T13:07:09+00:00","author":{"@id":"https:\/\/www.rrz.sk\/#\/schema\/person\/110076e5e6bb2bd49456f9780d112304"},"breadcrumb":{"@id":"https:\/\/www.rrz.sk\/en\/budgetary-traffic-light-2021-09\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.rrz.sk\/en\/budgetary-traffic-light-2021-09\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.rrz.sk\/en\/budgetary-traffic-light-2021-09\/#primaryimage","url":"https:\/\/www.rrz.sk\/wp-content\/uploads\/2021\/10\/TL_202109-2.png","contentUrl":"https:\/\/www.rrz.sk\/wp-content\/uploads\/2021\/10\/TL_202109-2.png"},{"@type":"BreadcrumbList","@id":"https:\/\/www.rrz.sk\/en\/budgetary-traffic-light-2021-09\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Domovsk\u00e1 str\u00e1nka","item":"https:\/\/www.rrz.sk\/en\/"},{"@type":"ListItem","position":2,"name":"Secretariat of the CBR (SoCBR) adjusts the deficit estimate only minimally"}]},{"@type":"WebSite","@id":"https:\/\/www.rrz.sk\/#website","url":"https:\/\/www.rrz.sk\/","name":"Rada pre rozpo\u010dtov\u00fa zodpovednos\u0165","description":"Nez\u00e1visl\u00fd org\u00e1n monitorovania a hodnotenia v\u00fdvoja hospod\u00e1renia Slovenskej republiky","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.rrz.sk\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.rrz.sk\/#\/schema\/person\/110076e5e6bb2bd49456f9780d112304","name":"\u017dofia","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.rrz.sk\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/92204a039000e687ecdf92a58f2978d0ff94fb9e7e5be808f35e875503368d46?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/92204a039000e687ecdf92a58f2978d0ff94fb9e7e5be808f35e875503368d46?s=96&d=mm&r=g","caption":"\u017dofia"},"url":"https:\/\/www.rrz.sk\/en\/author\/majdekova\/"}]}},"_links":{"self":[{"href":"https:\/\/www.rrz.sk\/en\/wp-json\/wp\/v2\/posts\/10487","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.rrz.sk\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.rrz.sk\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.rrz.sk\/en\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/www.rrz.sk\/en\/wp-json\/wp\/v2\/comments?post=10487"}],"version-history":[{"count":10,"href":"https:\/\/www.rrz.sk\/en\/wp-json\/wp\/v2\/posts\/10487\/revisions"}],"predecessor-version":[{"id":10512,"href":"https:\/\/www.rrz.sk\/en\/wp-json\/wp\/v2\/posts\/10487\/revisions\/10512"}],"wp:attachment":[{"href":"https:\/\/www.rrz.sk\/en\/wp-json\/wp\/v2\/media?parent=10487"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.rrz.sk\/en\/wp-json\/wp\/v2\/categories?post=10487"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.rrz.sk\/en\/wp-json\/wp\/v2\/tags?post=10487"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}