Slovakia on Monday approved a 2020 budget with a deficit of 0.49% of gross domes...
BRATISLAVA - Slovakia on Monday approved a 2020 budget with a deficit of 0.49% of gross domestic product after slowing economic growth forced the government to delay plans to balance public finances by two years to avoid spending cuts.
But with signs of trade with the euro zone weakening, the Finance Ministry cut growth forecasts in September by 1.1 percentage points to 2.4% for this year and 2.3% in 2020. The budget still has to be passed by parliament, where the government relies on the votes of several independent lawmakers for a majority.
State debt is expected to fall to 46.8% of GDP in 2020 under the plan and to 44.8% in 2022, from 47.9% expected this year.
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