LJUBLJANA (Slovenia), January 25 (SeeNews) – The Slovenian government revised the state budget for 2019, raising the budget surplus to 0.4% of the gross domestic product (GDP), from 0.2%, the government said.
“In the draft revised budget for this year, we are planning revenues of 10.35 billion euro ($11.7 billion), which is 6.2% higher than was forecast in the budget previously adopted for 2019, with expenditures to rise by 4.8% to 10.16 billion euro,” the government said in a press release on Thursday.
By revising the budget, the government said it is aiming to steer a course between ensuring the stability of public finances, public welfare and the wider development of the country.
“Owing to a better economic outlook than was the case when the current budget was adopted, the government’s draft revised budget predicts higher revenues, as well as higher expenditures as a result of the regulations adopted and agreements signed last year with representative associations and trade unions,” the statement added.
Real GDP growth is expected to be 4.2% in 2018, 3.4% in 2019, and around 3% in 2020 and 2021, the Bank of Slovenia said earlier this month.
In its previous economic growth projection issued in June, the central bank said Slovenia's GDP will expand by 4.6% in 2018 and 3.9% in 2019.
($ = 0.88112 euro)