The Budget Deficit in Slovenia Reduces by Half in 2017

The state budget deficit in Slovenia decreased by almost half and amounted to 332.4 million euros (0.8% of GDP). More funds were allocated for the improvement of motorways, less money were provided for the payment of debts.

By the end of 2017, the state budget received 8.8 billion euros in revenues. Of these, the proceeds from tax collection amounted to 7.7 billion euros. This is 6.9% more than in 2016. The proceeds from all the most important categories of taxes grew. The proceeds from income tax amounted to 1.1 billion euros, which is 7.3% more than in 2016. The proceeds from corporate income tax increased by 27.8% up to 766.2 million euros. The proceeds from other taxes on goods and services (in particular, VAT) amounted to 5.7 billion euros, which is 5.2% more than in 2016.

The expenses for the previous year amounted to 9.2 billion euros. At the same time, the expenses for retirement of securities decreased by 8.1% down to 977.3 million euros. More funds were used for maintenance and construction of roads. In view of the need to cover the losses of polyclinics and the financing of training courses and internships, the expenses of the Ministry of Health Care increased significantly. Due to the abolition of certain restrictive measures regarding the salaries of the public sector employees, the labour costs in public sector institutions also increased.

The amount of state obligations to the Centre for Insurance of Retired Persons and Persons with Disabilities decreased almost by 12% down to 1.1 billion euros. The amount of additional subventions to municipalities increased by 63% up to 13.6 million euros.

The last year payments to individuals and households amounted to a shade under 1.3 billion euros, which is 4% more than in 2016.

The development of EU earmarked funds, as compared to 2016, decreased by 17.3% and amounted to 395 million euros. On the other hand, the amount of deductions from the Slovenian budget to the EU budget also decreased by 11.4% down to 378.5 million euros.

Source: rtvslo.si