Slovaks work ‘for state’ longer this year

This Monday, May 27 was marked as Tax Freedom Day in Slovakia for 2019, according to the F. A. Hayek foundation. Tax Freedom Day is the first day each year that citizens of a country work for themselves and not for the state. Metaphorically, up until this day, people have been giving all of their yearly incomes to the state and income from that day on is left for themselves. Compared to last year, Slovaks worked for the state for two days longer. The F. A. Hayek foundation named reasons for the increase: expenses grow faster than the economy, because the government expected a faster growth of the economy. Other factors are the growing expenses of the self-governing municipalities and the growth of employment. The latter is a risk factor, as in the case of a crisis, growth in unemployment would mean increased public expenses. According to the foundation's analyst, the state uses 40 cents of each Euro earned in the Slovak economy or 39.91 % of the Gross Domestic Product.