Bajuk Says Slovenia on Track to Meet Budget Objectives
Finance Minister Andrej Bajuk has said that Slovenia is on track to meeting the budget objectives as agreed by the ministers of the 13 eurozone members in Berlin on Friday.
According to the agreement, countries with higher-than-recommended debt are expected to use booming tax revenues to reduce their budget deficits by at least 0.5% of GDP a year.
That way most of them would reach the medium-term goal of putting their finances on track in 2008 or 2009 - with 2010 set as the ultimate deadline.
Slovenia's convergence programme includes the mid-term goal of reducing the budget deficit to 1% of GDP by 2009, Bajuk told STA on Saturday, the second day of the finance ministers' meeting.
Bajuk is optimistic the country will be able to achieve this goal and contribute to the broader objective of cutting the deficit across the eurozone.
Bajuk also said that improving the quality of public finances required a "change of mentality".
Budgets may not focus on funds alone, they must also consider what can be expected of these funds, he said.
"This is a great challenge and we will dedicate more attention to this issue in the coming months."
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