Finance Minister Igor Matovic (OLaNO) reported on Monday that Slovakia is expecting a deficit of 4.3 percent of its GDP next year. The minister remarked that the planned budget revenue for next year is €20 billion and ministries have asked for an extra €6.6 billion. Matovic noted in this regard that his colleagues in the Cabinet had not come up with a solution to finding the extra money, however.
"The European Commission's rules allow us to present a deficit proposal of up to 4.3 percent, but the country's consolidation effort next year would have to be zero. That means we wouldn't either save or spend extra money," said Matovic.
Matovic claimed that his ministry is planning to set up a €700-million "covid" reserve. "And when it comes to other ministries managed by the OLaNO party [of which Matovic is the head - ed. note], these will receive significantly less money. It's a cruel proposal, but such is reality," stated Matovic.
