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<\/p>\nSecretariat of the Council for Budget Responsibility (SoCBR) estimates General Government Budget (GGB) deficit amounting to EUR 3,8 billion<\/p>\n
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\u2022 SoCBR has slightly decreased the estimated level of GGB deficit in 2022. A positive difference compared to the July forecast amounts to EUR 183 million (0.2 % of GDP). Under the assumption that the government does not take additional measures, the deficit can reach the amount of EUR 3.789 billion (3.5 % of GDP). A positive change in the expected deficit level is due to slower spending of state budget capital expenditures.<\/p>\n
\u2022 Estimated deviation between the SoCBR’s forecast for GGB deficit in 2022 and approved government budget remains positive and amounts to EUR 1 425 million (1.3 % of GDP), which means that the risk of public deficit rising above the government objective is low. However, development of public finances is still affected by high uncertainty due to a rapid rise in the price level and the war conflict in Ukraine.<\/p>\n
\u2022 Income from tax revenues and social contributions represent the most significant positive impact on the estimated level of deficit by EUR 1 809 million (1.7 % of GDP). We expect higher budgetary revenues especially from taxes, where high inflation increases the growth of macroeconomic bases compared to budget assumptions (especially labor taxes and VAT).<\/p>\n
\u2022 Absorption of EU funds and RRP is still lower than previously expected, what is reflected in a low level of co-financing expenditures compared to the budget with a deviation amounting to EUR 278 million (0.3 % of GDP).<\/p>\n
\u2022 Ministry of Finance of the Slovak Republic (MF SR) published in mid-August an estimate of the deficit in 2022 at the level of EUR 5 187 million (4.9 % of GDP). The deviation of the current SoCBR forecast from the MF SR estimate is positive and amounts to EUR 1 398 million (1.3 % of GDP). This difference results mainly from the slower expected spending of state budget capital expenditures and expenditures on co-financing associated with a drawdown of the EU funds.<\/p>\n","protected":false},"excerpt":{"rendered":"
Secretariat of the Council for Budget Responsibility (SoCBR) estimates General Government Budget (GGB) deficit amounting to EUR 3,8 billion \u2022 SoCBR has slightly decreased the estimated level of GGB deficit in 2022. A positive difference compared to the July forecast amounts to EUR 183 million (0.2 % of GDP). Under the assumption that the government […]<\/p>\n","protected":false},"author":6,"featured_media":16051,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"h5ap_radio_sources":[],"footnotes":""},"categories":[136,135,144,158],"tags":[117,116,219],"class_list":["post-15972","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-budget","category-fiscal","category-issued-2022","category-publications","tag-budgetary-traffic-lights","tag-fiscal-forecasts","tag-general-government-budget"],"acf":[],"yoast_head":"\n