Business News

Bank Recapitalisation Costs Pushing Up Deficit

Ljubljana, 30 September (STA) - Slovenia's primary deficit stood at 2.2% of GDP in the first half of 2013, marginally higher than in the year before, but the figure swells to 4.7% of GDP with bank recapitalisation costs included, the Statistics Office said Monday.

The general government deficit of 4.7% of GDP (EUR 801m) in the first half of the year is thus 0.4 percentage points higher than in the year before.

However, the actual overall deficit exceeds 7% of GDP if interest expenditure of nearly EUR 430m (about 2.5% of GDP) is included.

Consolidated general government debt totalled 62.6% of GDP at the end of June, having surged from 54.8% of GDP in the first quarter.

Debt of the central government is estimated at 61% of GDP, that of the local government at 2% of GDP and social security funds add another 0.2% of GDP.

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