Slovenia CB Urges Deficit Cuts

Slovenia should use good economic conditions to further reduce its budget deficit, the Bank of Slovenia said on Tuesday, noting the deficit is falling faster than it had expected last year, Reuters reported. The government has halved its deficit plan for 2017 to 0.8% of GDP and said the deficit should fall to around 0.2% in 2018. Last year the deficit was 1.8% of GDP. “Faster reduction of deficit is the consequence of improved economic conditions which are increasing tax income and reducing social benefit payments,” the bank said.