VZCZCXYZ0008
RR RUEHWEB

DE RUEHSL #0113 0720722
ZNR UUUUU ZZH
R 120722Z MAR 08
FM AMEMBASSY BRATISLAVA
TO RUEHC/SECSTATE WASHDC 1588
INFO RUEATRS/DEPT OF TREASURY WASHDC

UNCLAS BRATISLAVA 000113 
 
SIPDIS 
 
SIPDIS 
 
E.O. 12958: N/A 
TAGS: EAID ECON PREL LO
SUBJECT: UPDATE OF SLOVAK FISCAL TRANSPARENCY NARRATIVE 
 
REF: State 16737 
 
¶1. Per reftel request, the following is the updated country 
narrative regarding fiscal transparency in Slovakia. 
 
¶2. SLOVAKIA 
 
Slovakia has made significant progress in strengthening its 
management of public finances over the past few years. The 
government of Slovakia makes its state budget public via written 
publications and through the internet on the web sites of the 
Ministry of Finance, Parliament and the Government Office.  This 
annual budget law and the accompanying annexes, which include 
detailed information on all revenues and expenditures, are widely 
viewed as true and accurate. 
 
The budget is presented in both ESA95 (which is a standard in the 
European Union) and on an accrual cash basis.  At the same time, the 
IMF regularly receives data in its 2001 Government Finance 
Statistics (GFS) format. Program and multi-annual budgeting were 
adopted several years ago, the fulfillment of the program goals is 
monitored, and the first year in the three year budget is binding. 
The fiscal mid-term framework is updated annually and submitted for 
approval to the European Commission. 
 
According to IMF's 2005 report on the Observance of Standards and 
Codes - Fiscal Transparency Module, Slovakia has addressed almost 
all of the recommendations from the 2003 update.  The remaining 
recommendations from the 2003 update relate to audit requirements 
for public enterprises: specifically, to expand the mandate of the 
Supreme Audit Office to audit all enterprises in which the 
government holds equity, not just those with a state interest of 34 
percent or more; and to require audits of commercial public 
enterprises by the private sector in addition to the Supreme Audit 
Office. 
 
OBSITNIK