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Slovak parliament approves 2011 budget
Dec 8, 2010, 14:16 GMT
Bratislava - Slovakia's parliament on Wednesday approved the budget for 2011, which aims to sharply cut the national deficit to 4.9 per cent of gross domestic product (GDP).
The deficit climbed during the global economic crisis to 7.93 per cent of GDP in 2009 and is expected to reach 7.84 per cent this year.
Slovakia, an export-driven economy that adopted the euro in 2009, was not directly hit by the crisis on global financial markets but has suffered amid falling demand for its goods.
The four-party, centre-right government led by Prime Minister Iveta Radicova plans to cut the deficit next year through spending cuts and tax hikes.
The budget passed by a vote of 78-69 in the 150-seat chamber.
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