Slovenian govt aims to balance budget by 2015

A deficit of below 3.0% of gross domestic product (GDP) next year, half its 2011 value, will be achieved via a combination of austerity and revenue-boosting measures and a package of development incentives worth nearly 800 million euro ($1.03 billion), the government said in a statement after the lawmakers had endorsed the bills a day earlier.

Budget revenues are set at around 8.6 billion euro next year with expenditures at 9.6 billion euro. In 2014, both the revenue and expenditure targets are somewhat lower at 8.4 billion euro and 9.3 billion euro, respectively.

Additional budget revenues will be raised by hiking some taxes and duties, including a planned increase of excise duties, the statement said.

The government expects that the pension reform, adopted by parliament a few days ago, will significantly contribute to cutting budget outlays.

($=0.775 euro)