Finance Minister Ladislav Kamenický issued a warning: spending cuts are inevitable, because otherwise the deficit next year would be "absolutely out of control" and reach more than 9 billion euros. The measures mentioned so far, of cuts of one-half of a percent of GDP, amount to 650 million and that’s not enough.
"If we want to reach the half-percent consolidation that we have in the government's program statement, we are talking about 2 to 2.5 billion euros. So it will be one of the biggest budget reductions in history,” he said.
(TASR)
Bickercaarten Michiel, Photo: TASR
