The European Commission has started proceedings against seven member states with excessive deficits, including Slovakia. On the proposal of the European Commission, the Council of the EU should adopt its recommendation on the adjustment procedure and propose a deadline for ending the excessive deficit. In Slovakia last year, the general government debt represented 56% of GDP. This year, Slovakia’s deficit should be 1% higher. The increase reflects the continuation of measures to stabilize energy prices and measures such as a permanent increase in the 13th pension, an increase in healthcare spending, the creation of a new Ministry of Tourism, and an amendment to the Education Act.
TASR
Jeremy Hill, Photo: TASR
