Parliament approved the 2022 state budget on Tuesday, with 91 out of 146 lawmakers present voting for the bill. Slovakia is expected next year to run a deficit of 4.94 percent of GDP. This year's deficit is forecast to equal about 8 percent of GDP.
In the years following, the public finance deficit is expected to decrease to 2.7 percent of GDP, with a balanced budget to be achieved in 2024. In order to make that happen, however, consolidation measures amounting to almost €4 billion are needed, according to the Finance Ministry.
The public administration's total projected income for 2022 stands at €44.2 billion, with expenditures at €49.4 billion. The public administration's multi-year budget anticipates that the gross debt of Slovakia will culminate in 2021-22 at 61.5 percent of GDP, then drop under 59 percent of GDP by 2024.
According to the budget bill, an allocation of €4.59 billion is expected under the recovery plan in 2022-24, with the bulk of these resources earmarked next year for the green economy (€454 million), education (€323 million) and health (€218 million).
