Kažimír is the 2018 European Finance Minister of the Year

The Slovak Finance Minister was recognized by the specialised monthly magazine.

Finance Minister Peter KažimírFinance Minister Peter Kažimír (Source: TASR)

Finance Minister, Peter Kažimír, has been chosen for the 2018 European Finance Minister of the Year award by the British monthly, The Banker. The award recognizes his work and the resulting improvements made to the Slovak economy, the Finance Ministry wrote on January 2.

Since Kažimír took up the post of finance minister in 2012, the Slovak economy has seen a pronounced revival, with the Slovak budget deficit scrunched down from 4.3 percent of GDP in 2012 to the planned 0.83 percent of GDP this year, according to the weekly.

“I’m glad that our accomplishments are being recognised abroad as well,” the minister said in response. “It’s a result of our efforts, but also the fact that we represent an equal partner for others in Europe,” he also said, adding that the award represents a commitment to the future.

Reasons for selection

The Banker pointed to the growth in the Slovak economy, which equaled 3.3 percent in 2016 and maintained the same figure in 2017 by estimation. In the current year, the economy is expected to grow at a pace of 3.7 percent.

“I hope that our economy will fare well in the future, mostly by virtue of investments in the automobile industry and technological innovations,” Kažimír said.

The decision to award the prize to Kažimír was based on an evaluation by The Banker’s editorial staff as well as a survey given to influential European bankers and economists. In the past, the award has gone to Irish minister, Michael Noonan, and Latvian minister, Dana Reizniece-Ozola.

The Banker is part of the Financial Times Business group (since 1996), TASR wrote, adding that it has been published since 1926 in more than 180 countries worldwide.

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