EU criticizes Slovak state budget draft for 2020

Slovakia's state budget draft for next year does not fully comply with EU requirements. Nevertheless, the European Commission has accepted it. The EC identified certain risks of deviation when assessing its structural balance as well as the expenditure rule. At the same time, it highlighted that Slovakia's debt is safely below the level of 60 percent of GDP. "We expected such an assessment from the Commission. My ambition is for the budget to be approved and for no further changes to be made to it which would mean an increase in next year's deficit. We still have sound public finances, and if the 'pre-election creativity' of MPs isn't reflected in it, next year's deficit should account for 0.49% of GDP," said Finance Minister Ladislav Kamenický. According to the EU assessments, Finland, Slovenia, Portugal and Slovakia have budgets with a risk that they might not fully meet the required criteria. The budgets of France, Spain, Belgium and Italy were assessed as being the worst by the Commission.