LJUBLJANA, Aug 31 – Slovenia said it had a budget surplus of 68.1 million euros ($79 million) in the first seven months of 2018, reversing a fiscal deficit a year earlier as tax revenues rebounded and debt servicing costs fell.
Tax inflows were 6.2 percent higher than a year earlier amid “better conditions on the labour market, better performance of companies and higher consumption”, the finance ministry said in a statement on Friday.
It also said that spending for interest rates on sovereign debt was 7.7 percent lower than a year earlier, mainly due to an exchange of some of its older bonds with high interest rates with newly issued bonds with lower interest.
The government reported a 109 million euro budget deficit for January-July in 2017.
The ministry has targeted a budget surplus of 0.4 percent of gross domestic product this year versus a surplus of 0.03 percent in 2017, boosted by robust economic growth which reached 3.8 percent year-on-year in the second quarter of 2018. ($1 = 0.8585 euros) (Reporting by Marja Novak; Editing by Susan Fenton)