Prediction for this year's public finance deficit went from 2.64 percent to 2.93 percent of GDP. The increased estimate should not be perceived tragically, stated Finance Minister Peter Kažimír adding that the figures can improve by the year’s end.
The reason for the worsened estimate lies partly in the introduction of a new accounting framework called the European System of National and Regional Accounts (ESA 2010). Finance Minister Kažimír is optimistic, claiming that Slovakia will meet its budget goals for this year. Efficiency of tax collection should be one of the measures to ensure this, Kažimír claims. According to vice-chairman of Parliament’s finance and budget committee Jozef Kollár, public finances are slipping out of the minister's hands. We can go back to excessive deficit very quickly, Kollár added.
