Slovak cuts revenue outlook trends

BRATISLAVA: The Slovak finance ministry cut its budget revenue forecast for 2013 by 361 million euros ($483.36 million)on Friday, citing impacts of the euro zone crisis on the real economy as a key reason.

The euro zone country's economy is currently driven solely by foreign demand for cars, and any slowing of the expansion poses a risk to the government's pledge to cut the deficit below the EU's limit of 3 percent of the national output this year.

The ministry significantly cut its 2013 growth outlook last month, expecting the euro zone country to grow by 1.2 percent instead of 2.1 percent.