Coronavirus postpones balanced budget in Slovakia

The Slovak cabinet adopted the general government budget for the next three years.

Finance Minister Eduard HegerFinance Minister Eduard Heger (Source: TASR)

Slovakia will continue to have deficit budgets during the following three years due to the impacts of the coronavirus pandemic on businesses in Slovakia as well as its main trade partners. The Slovak cabinet adopted the general government budgets for 2021-2023 on Wednesday, October 14, just one day before the deadline for sending the document to parliament set by the law on budgetary rules for October 15.

“We are reeling in the biggest crisis,” said Finance Minister Eduard Heger after the cabinet’s session, as cited by the SITA newswire. He said the budget reflects the truth, salvation and responsibility as it does not hide anything, mitigates the impacts of the coronavirus crisis and is balanced between needed resources and the future need for the consolidation of public finances.

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