Government discusses 2020 state budget

On Monday afternoon, the Government is scheduled to hold a meeting to discuss the state budget for the next few years as well as several budget-related drafts, such as the draft budgets for Eximbanka and social insurance provider Sociálna poisťovna. In its draft for 2019, the finance ministry predicts a deficit amounting to 0.68% of Gross Domestic Product (GDP). The Government will thus fail to achieve a balanced budget. Next year, the deficit should drop to 0.49% of GDP, while Slovakia should see a balanced budget as of 2021. The gross state debt should fall to 47.9% of GDP this year, bringing it below the lower sanction zone. The Finance Ministry is obliged to prepare the draft budget so that the Government can submit it to Parliament by October 15 of each year. EU-member states must submit their draft budgets for the following year for the European Commission to assess by this date as well.