Slovakia's growing debt is unsustainable, if we do nothing, there is a problem, said newly appointed Prime Minister Ľudovíť Ódor. The current caretaker government has not yet specified concrete steps on how it will set the budget and how it will consolidate public finances. On Wednesday, Ódor stated that they have to make a plan both on the revenue and expenditure side. In his words, they will do everything to make room for the new government that will emerge from September’s elections to choose from the measures they prefer. "The government will put together a budget that is acceptable to it and reflects its political priorities," Ódor said.
A 6 percent government deficit is expected this year. According to the PM, this is admittedly a high figure and we are somewhere at the tail end of the European comparison.
However, it is not so much of a problem to have a 6% deficit in one year, but it is unbearable for the debt to continue to grow. At the same time, European rules are coming into play and something has to be done about it anyway. "On top of that, we are facing an ageing population, which adds to the deficit every year. If we do nothing, there is a problem," Ódor added.
Source: SITA
