Business News

Budget Deficit for 2013 Slightly Below Target

Ljubljana, 28 January (STA) - The budget deficit for 2013 was slightly below the target figure of EUR 1.55bn, as the government managed to offset a shortfall in revenue with cuts in spending.

According to preliminary figures from the Finance Ministry, the deficit totalled EUR 1.535bn, EUR 12m below that planned in the supplementary budget for last year.

While budget revenues were EUR 304m below that planned in the budget, spending was cut by even more to attain the target, the ministry said.

The total value of revenues was at EUR 7.78bn, whereas expenditure amounted to EUR 9.314bn.

In addition to succeeding in meeting the deficit target, the government also saw the budget stand in the black in December, as a EUR 80.7m surplus was generated owing to a large increase in the inflow of EU funds.

Indeed, revenues from EU funds stood at EUR 287m in December, after averaging around EUR 50m a month the rest of the year.

Despite the success in phasing EU funds in December, Slovenia fell short of its target in this area for the year: the EUR 933m drawn from the EU was EUR 252m short of that planned in the budget.

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