November 30, 2018 / 12:04 PM / 19 days ago

Slovenia Jan-Oct budget surplus soars to 749 mln euros

LJUBLJANA, Nov 30 (Reuters) - Slovenia had a budget surplus of 749 million euros ($852.06 million) in the first ten months of 2018 versus a surplus of 15.4 million euros in the same period of 2017, the finance ministry said in a report on Friday.

“Budget inflows rose to about 8.22 billion euros, up by 12.3 percent compared to the same period last year, while spending was 2.3 percent higher,” it added.

It said inflows were higher due to higher one-off incomes from European funds and the one-off income of 270.6 million euros from the dividends of Slovenia’s largest bank Nova Ljubljanska Banka (NLB).

Tax inflows were 6.1 percent higher than a year ago due to favourable economic conditions. Earlier on Friday the statistics office reported that Q3 GDP rose by 4.8 percent year-on-year, boosted by a rise of investments and exports.

On Thursday the office said Q3 jobless rate fell to 5 percent which is the lowest level since the last quarter of 2008.

The government plans a budget surplus of some 0.5 percent of GDP this year and a surplus of about 0.2 percent in 2019. ($1 = 0.8790 euros) (Reporting By Marja Novak Editing by Raissa Kasolowsky)

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