Slovenian government is faced with tough budget debate

Slovenian government is faced with tough budget debate

 

Review Hari Stefanatos

The newly formed slovenian government is to have its first working meeting today, which will be dedicated to the 2015 budget. There will most likely be a revision of last November’s document, according to which the expected annual deficit is expected to be in the region of EUR 869 million. This year’s budget will also be discussed.

The budget deficit for 2014 was expected to be below EUR 1 billion, but that target has already been reached in August, with next year’s target set at the even restrictive EUR 86o million.

New Finance Minister Dušan Mramor will first make a thorough assessment of the situation of public finances, which he announced as his first priority as minister, after which he will examine the possibility of supplementing this year’s budget.

Changes for the next year’s budget are meanwhile more likely, as Slovenia and all other eurozone members are expected, in line with the new budget supervision rules, to send draft budget documents to Brussels by October 15.

The budget for 2015 foresees the expected revenue to be EUR 8.6 billion, while the expected expenditure stands at EUR 9.5 billion, with an optimistic scenario, based on the upbeat economic forecasts from both domestic and foreign institutions, speaking of even higher revenue than expected.

Another issue that is expected to be discussed at the meeting in Brdo pri Kranju are the latest macroeconomic projections with reference to the projects planned for 2015, as well as a debate on the state of public finances and measures to improve it.

(Source: Sloveniatimes)