State budget for 2018 passed, not balanced yet

On Wednesday, parliament approved the state budget for 2018. For the first time, the public finance deficit should drop below 1 percent next year, specifically to 0.83 percent of GDP. Top representatives of the governing coalition view the state budget for next year as balanced and reflecting the Government's priorities. Prime Minister Robert Fico (Smer-SD) went as far as to call it "an extraordinarily stabilising element for the governing coalition". However, several Opposition MPs expressed their objections to the draft budget during the debate on it. They chiefly blame Finance Minister Peter Kažimír for delaying plans for consolidation and achieving a balanced budget. Analysts express the same concern. According to Ivan Šramko, head of the Council for Budget Responsibility, the Government is not taking advantage of the favorable economic condition Slovakia is in at the moment.The Finance Ministry plans to achieve a balanced budget in 2020.