More than ever, Slovakia needs a responsible debate on the condition of its public finances and possibilities to improve it, caretaker Finance Minister Michal Horváth said on Sunday. "If we fail to intervene, Slovakia might have a big problem in the future," said Horvath. He pointed to the Budgetary Responsibility Council (RRZ), according to which public finances in 2022 have arrived at the high-risk boundary in terms of long-term sustainability.
"Unfortunately, we are lagging behind even in the European comparison. After taking into account the pension reform, Slovakia is among the worst quarter of countries in the European Union from the viewpoint of long-term sustainability, stated RRZ and this was also confirmed by the European Commission. RRZ also warned that the debt ratio would start to rise without additional measures," stressed Horvath, referring to RRZ's latest report.
Horvath blames no particular political garniture for the current condition of public finances. He ascribes it to long-term neglect of this area and to several crises that the country faced. The minister wants to approach the ministerial post as an expert. "While politicians often look at public finances from the short-term viewpoint of their rule, we perceive them from the viewpoint of long-term sustainability," he noted.
Source: TASR
