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Slovak public finance deficit to drop to 1.29 pct of GDP in 2017

Xinhua, November 30, 2016 Adjust font size:

The public finance deficit should reach 1.29 percent of GDP in 2017, while it should drop to 0.44 percent in 2018 and switch to a surplus of 0.16 percent in 2019, according to the state budget approved by parliament on Tuesday.

In absolute figures, the public administration deficit should reach 2.017 billion euros (2.13 billion U.S. dollars) in 2017. The gross public administration debt should gradually decrease to the level of 49.1 percent of GDP in 2019.

The state budget draft has been based on the prognosis that the Slovak economy will grow by 3.5 percent in 2017.

The Slovak Finance Ministry expects the negative impact of Brexit to be compensated by better export productivity in Slovakia.

Investment activity should be supported by construction in the automotive industry, as well as resumed growth of public investment, it added. Endit