The Slovenia Times

Govt Plans Budget Deficit of 2.5% in 2013, 1.8% in 2014

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The planned deficit for next year meets the goal of reducing the budget deficit to 3% of GDP in 2013 set by Slovenia as part of an EU procedure launched against it after it broke the bloc's 3% deficit cap in 2009 at the outset of the financial and economic crisis.

Head of the Government Communication Office An┼że Logar said on Thursday that budget expenditure for next year has been set at EUR 9.5bn, which will drop to EUR 9.3bn in 2014.

The restrictive spending plan is in line with the government's efforts to wipe out the budget deficit by 2015.

As part of these efforts the government already cut spending in a broad austerity act and supplementary budget passed by parliament in May.

Under the overhauled budget for this year, Slovenia will spend just over EUR 9bn, while the deficit is to stand at EUR 1.1bn, which makes for around 3% of GDP.
 

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