The Slovenia Times

Budget Shortfall by September Surpasses Annual Target


After a stabilisation in August following the implementation of the omnibus austerity act, the budget deficit increased again in September as expenditure surpassed receipts by EUR 151m, first calculations show.

This brings the shortfall in the first nine months to EUR 1.14bn, which is in excess of the EUR 1.072bn deficit planned for the year in the supplementary budget passed in July.

Receipts in September at EUR 486m were nearly EUR 84m lower than those in August. All types of revenues decreased except for EU funds, which increased slightly.

The supplementary budget for 2012 projects revenues to the tune of EUR 7.9bn, which figure will probably not be attained, Finance Minister Janez Šušteršič told the parliamentary commission overseeing public finances.

"Receipts will probably be somewhat lower than projected in the supplementary budget because economic results this year are below the forecasts at the time the supplement was drawn up. This is a fact of life," he said.

The minister made the comments in response to MP Alenka Bratušek of the opposition positive Slovenia (PS) who said that at least EUR 300m would be missing in the budget this year.

Tax receipts in September amounted to EUR 457m, by EUR 61m less than in August. Receipts from tax on goods and services decreased by EUR 80m, while revenues from taxes on income, profit and labour force increased somewhat.

By the end of September, EUR 5.5bn of revenues (69.6%) and EUR 6.7bn of expenditure (73.9%) planned for the year were realised.


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