Budget deficit was larger last year than previously known

General government deficit hit 5.8 per cent of the GDP last year on an accrual basis, larger than previously known, says the Ministry of Finance in a report of last year’s budget available yesterday for a short time on its website. The report disappeared later on the day. Earlier this year the Ministry claimed a deficit equal to 5.4 per cent of the GDP. The deficit has not changed on a cashflow basis, only according to the EU methodology, i.e. on an accrual basis. There was no explanation of the larger figure in the report. In recent years the government has often used this technique, gradually changing deficit figures for the worse not only during the course of the year but afterwards as well.