March 24 (SeeNews) - Slovenia's government plans to propose a revision of the 2023 state budget to reduce expenditure and cut deficit, as fewer than expected measures are needed to mitigate the impact of high energy costs, the government said.
"The government laid the groundwork for the rebalancing of this year's state budget and determined the breakdown of budget expenditures. These will amount to 600 million euro less than was foreseen in the current budget for this year," the government said in a statement on Thursday.
In November, the Slovenian parliament approved the 2023 country's budget envisaging revenues of 13.5 billion euro ($12.7 billion). Expenditures were projected at record-high 16.7 billion euro, while the expected budget deficit was set at 3.3 billion euro.
Slovenia's Fiscal Council, an independent body accountable to Slovenia's parliament, said last month that the government will most likely decide to revise the 2023 state budget later this year, as some larger non-flexible components of the budget have remained underestimated. The Fiscal Council added that it expects the budget revision to be more realistic than in 2022, when the deficit stood at 2.4% of gross domestic product (GDP) - much less than projected in a rebalancing.
($ = 0.92758 euro)