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
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.

Get daily Slovak news directly to your inbox

Theme: European Union

Read more articles by the topic

Top stories

News digest: The Gale targets corruption, cabinet officially prolongs curfew

Slovakia learned about biggest corporate taxpayers, the president signed laws changing the minimum wage and 13th pensions. Read the latest news overview.

Mobile testing units were built in the Hviezdoslavovo Square in Bratislava.

The big testing: When and where to show up, and what if I don't want to? (FAQ)

Here is what we know about the practicalities of the nationwide testing so far. Testing also applies to foreigners and diplomats in Slovakia.

Pilot testing in Bardejov

Storm transforms into Gale. More judges and an influential businessman detained

The police raid related to corruption in Bratislava courts.

Businessman Zoroslav Kollár (l) was brought to NAKA.