Slovak News - Nov 96 - Proposed Act On Slovak Republic Budget For 1997

Income tax yields are again to provide for the dynamics of creation of source of income for the budget. Comparing last year, VAT gains are planned to be lower by 6-7 billion Sk.

Unlike last year, a growth in yields of the income side of the budget is expected to increase as much as 55 billion Sk. Growth of the GNP is expected to be 6%, inflation rate up to 6% and unemployment rate on the level of 11-12% in 1997. The deficit of the state budget should reach 36.9 billion Sk, representing 5.5% of the GNP.

The proposal was submitted to the government for discussion.

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