Finance Ministry: New Expenditure Limits Use Different Methodology

Bratislava, May 10 (TASR) - Expenditure limits calculated under the existing law cannot be compared with limits that are to be introduced by the legislation approved on Thursday (May 9), as the calculations don't have the same basis and the new limits use different methodology, the Finance Ministry pointed out on Friday. "The new limits, for instance, also take into account expenditure by local authorities, which the old limits didn't contain. That's also one of the reasons why the new cap of €57 billion is nominally higher," stated the ministry. Under the current legislation, the limits are set at €47 billion. The new expenditure limits were passed by Parliament at the request of the Finance Ministry, which argued mostly that it's necessary to harmonise the national legislation with new European fiscal rules. mf/mcs