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Thursday, April 18, 2024

Parliament confirms revised budget for 2020, expenditure up by nearly 30%

The National Assembly adopted the supplementary budget for 2020, which raises expenditure by EUR 3 billion or 29% in the face of the coronacrisis while slashing revenue by almost 15%. With a deficit of 9.3% of GDP, the budget earmarks EUR 2.6 billion, 19% of all expenditure, for measures meant to mitigate the crisis.

Prime Minister Janez Janša acknowledged the deficit, at roughly EUR 4.2 billion, was high, but he added the spending was prudent and positioned the Slovenian economy for a recovery.

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