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EC: Slovakia is among countries with the best budget

The Draft Budgetary Plan of Slovakia is compliant with the provisions of the Stability and Growth Pact (SGP), says a European Commission report published November 28.

The Draft Budgetary Plan of Slovakia is compliant with the provisions of the Stability and Growth Pact (SGP), says a European Commission report published November 28.

Slovak Finance Minister Peter Kažimír in his response pointed out that Slovakia is one of five EU member states which are considered as compliant along with Germany, Ireland, Luxembourg and the Netherlands.

“This is very good club [of countries],” Kažimír said, as quoted by the TASR newswire.

In particular, based on the currently available information, the general Slovak government deficit would not exceed the Treaty reference value which is set to 3 percent of GDP, although there are some uncertainties with respect to the deficit developments in 2014, according to EC.

“The Commission invites the authorities to stand ready to take the necessary measures within the national budgetary process,” EC report writes “to ensure that the 2015 budget will remain compliant with the SGP.”

Kažimír said that the deficit will reach 2.3 percent of GDP.

“I am honestly convinced that this is one of the best or the best budget I have ever proposed or participated in creating,” Kažimír said as quoted by TASR. “It creates all preconditions for healthy and sustainable consolidation of public finances in future.”

Source: EC report, TASR

Compiled by Roman Cuprik from press reports
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Topic: European Union


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