Slovakia’s debt and deficit projected to increase in the coming years

The Finance Ministry is not worried about analysts’ warnings.

Council for Budgetary Responsibility (RRZ) chairman Ivan ŠramkoCouncil for Budgetary Responsibility (RRZ) chairman Ivan Šramko (Source: Sme)

The government-approved public finance budget for the years 2020 to 2022 is not based on realistic assumptions in several items of public finance revenue and expenditure.

The risks to the draft budget amount to 1.3 percent of GDP a year. Ivan Šramko, chairman of the Council for Budgetary Responsibility (RRZ), said so when evaluating the draft budget on November 15, as reported by the SITA newswire.

Related articleSlovakia fails to meet balanced budget plan Read more 

If no additional measures are taken by the end of this year, he expects the deficit to reach up to 1.8 percent of GDP in 2020 and then increase to 2.0 percent of GDP in 2021 and 2.5 percent of GDP in 2022.

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