The Slovenia Times

Slovenia's budget deficit halves in 2017


Tax revenue contributed the lion's share or EUR 7.7bn to total revenue, with the figure increasing by 6.9% over 2016.

Revenue from personal income tax increased by 7.3% to EUR 1.1bn, from corporate income tax soared by 27.8% to EUR 766.2m, and from taxes on goods and services, which includes VAT, rose by 5.2% to EUR 5.7bn.

Slovenia drew 17.3% less or EUR 395m from EU funds, but it also paid 11.4% less or EUR 378.5m to the European budget.

On the side of expenditure, investment, especially in maintenance and construction of roads, contributed the most to the 1.7% growth in total expenditure. On the other hand, expenditure on interest dropped 8.1% to EUR 977.3m.

Expenses increased in healthcare due to the bail-out of hospitals. Current transfers to public institutions were also up due to the abolishment of some austerity measures in the public sector. Expenditure on wages and contributions were up 4% to EUR 1.174bn.

Transfers to individuals and households also increased by 4%, to almost EUR 1.3bn. The increase comes in part on the back of eliminating austerity measures.

On the other hand, current domestic transfers to the Pension and Disability Insurance Institute (ZPIZ) decreased by almost 12% to EUR 1.1bn, and expenses for supplementary payments to municipalities dropped by 63% to EUR 13.6m.

In December aloe, the budget had a deficit of EUR 173.3m. Receipts stood at EUR 776.5m, an annual drop of EUR 30.8m, while expenses rose by EUR 60m to EUR 949.8m.


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