If Slovakia fails to include spending limits in its draft state budget for next year, it could face both financial and reputational consequences, said Ingrid Ludviková from the press department of the Representation of the European Commission in Slovakia. The country set the introduction of spending limits as one of the milestones of its recovery and resilience plan and declared it fulfilled following the approval of the relevant legislation in March. However, the Ministry of Finance rejected the Budgetary Responsibility Council's proposal to calculate these limits and did not include them in the preparation of the new budget.
The introduction of spending caps requires an agreement between the Slovak Council for Budget Responsibility and the Slovak Finance Ministry on the methodology of their operation. However, since mid-July there has been no interaction from the Ministry despite repeated urgings from the side of the council RRZ. The Ministry says that putting spending limits into practice remains a priority.
Source: TASR
