The Slovak Finance Minister Peter Kažimír says that submitting a balanced state budget in the current situation, involving mandatory cuts of up to €3 billion, would be lethal for Slovakia's economy and the country’s living standards. The minister was reacting to concerns that the overall state debt in 2014 may exceed the ceiling of 57 percent of GDP.
“The law on the debt brake is our national legislation, it isn't an issue of life and death,” said Kažimír, adding that there is no risk that the ceiling will be broken next year, however. The overall debt should reach 56.8 percent of GDP in 2014 and should then begin to fall.
Lucia Pazičová
