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Slovenia’s parl approves 2019 budget revision, targets 0.4%/GDP surplus

Slovenia’s parl approves 2019 budget revision, targets 0.4%/GDP surplus wrangler/Shutterstock.com

LJUBLJANA (Slovenia), March 6 (SeeNews) – Slovenia’s parliament has revised the 2019 budget bill, lifting the budget surplus target to 0.4% of the planned gross domestic product (GDP), from 0.2% adopted originally, the government said on Wednesday.

“Owing to a better economic outlook than was the case when the current budget was adopted, the government’s draft budget revision 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 government said in a statement.

Revenues are planned to reach 10.35 billion euro ($11.7 billion), which is 6.2% higher than the forecast made in the originally adopted 2019 budget, while expenditures are set 4.8% higher at 10.16 billion euro, which brings a surplus of 194 million euro.

The government said that by revising the budget it is aiming to steer a course between ensuring the stability of public finances, public welfare and the wider development of the country.

Real GDP growth is expected at 4.2% in 2018, 3.4% in 2019, and around 3% in 2020 and 2021, Bank of Slovenia said in January.

In its previous economic growth projection issued in June, the central bank said Slovenia's economy will expand by 4.6% in 2018 and 3.9% in 2019.

($ = 0.88337 euro)

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