Slovakia’s 2012 budget deficit may fall under 4.4 percent of gross domestic product, below the target of 4.6 percent of GDP, as the economy will expand faster than projected, Finance Minister Ivan Miklos said.
The Finance Ministry revised its forecast for the 2012 growth to 2.3 percent from 1.7 percent, on which the budget was based, Miklos told journalists today in Bratislava, Slovakia.
To meet the 2013 goal of trimming the budget deficit below 3 percent of GDP, the government will need to adopt austerity measures worth 1.17 billion euros, Miklos said.
To contact the reporter on this story: Radoslav Tomek in Bratislava at firstname.lastname@example.org
To contact the editor responsible for this story: James M. Gomez at email@example.com