Slovenia's budget in 2020 holds a deficit of EUR 3.5 billion

by   CIJ News iDesk VII
2021-01-13   17:03

According to the fiscal council of Slovenia headed by Davorin Kračun last year's state budget deficit amounted to EUR 3.5 billion, which was lower than projected in the supplementary budget (EUR 4.2 billion), without taking into account the direct effect of covid-19 mitigation measures, amounted to EUR 1.1 billion.

Last year, budget revenues fell by more than a tenth, mainly due to the decline in economic activity and the consequent lower tax base, but also to a lesser extent due to measures to combat covid-19. On the other hand, high expenditure growth (26.8 percent) was mainly the result of epidemic-related measures, while expenditure growth without taking into account this effect (6.5 percent) was lower than projected in the revision.