The Slovenia Times

FinMin confident Slovenia will exit excessive deficit procedure

Nekategorizirano


The general government deficit of 2.9% of GDP in 2015 is exactly as we planned, Mramor said in Amsterdam after attending an informal meeting of EU finance ministers.

The ministers discussed the EU budget rules as set down in the Stability and Growth Pact, voicing support for changes to the methodology, something that is also advocated by Slovenia.

The national Statistics Office revised the 2015 deficit upwards to EUR 1.13bn or 2.9% of GDP, which means it remains below the 3% limit prescribed by the Stability and Growth Pact.

"Methodological changes moved the deficit upwards and downwards due to Eurostat's different methodology, but it's still within the planned framework," Mramor said.

More should be clear by the end of May when the European Commission is expected to release a new package of recommendations to individual member states on assessing their fiscal policies.

In today's debate on the methodology of the Stability and Growth Pact, Slovenia was singled out as the only country in which the results obtained with the methodology make no economical sense.

The debate showed that the methodology was inadequate and that a solution was needed, something Mramor was happy with.

He does not expect Slovenia having to supplement its budget for the year due to the EU rules, while he did not rule out other reasons such as a slow-down in economic growth or a fall in budget revenue.

Share:

More from Nekategorizirano