Gov't Adopts 2003 and 2004 Budget Memorandum

Ljubljana, 31 July - The government on Thursday adopted the budget memorandum for 2003 and 2004, which is the basis for the adoption of next year's budget and the drafting of the budget for 2004. Based on worse-than-expected macroeconomic indicators, the 2003 supplementary budget, is to have revenues of SIT 1,382.9bn (EUR 6.09bn) and expenditures totalling SIT 1,437.6bn (EUR 6.3bn). The budget deficit is thus to amount to SIT 54.6bn (EUR 240.5m) or 0.99 percent of the GDP.