According to Finance Minister Peter Kažimír, Slovakia might be able to reduce its deficit of this year's budget to 2.85 percent of GDP, which is lower than the current 2.94 percent benchmark established for the 2013, 2014, and 2015 budgets. “Based on the available data, the state budget deficit could drop to 2.85 percent of GDP this year.
Nevertheless, problems may emerge with respect to the economic results of the consolidation efforts on the part of individual regional governments. As of today, the eight regions have slipped from the required figure by 0.24 percent of GDP – or €170 million. This is a situation we have to deal with,” said Kažimír adding that he met with representatives of towns and villages on Saturday (September 28) so that they could discuss further consolidation measures. According to the Slovak Towns and Villages Association (ZMOS) spokesperson Marta Bujnakova, regional governments will probably meet the desired results at the end of the year, “In spite of the fact that the government violated the Memorandum and adopted laws that have financial implications for local governments, such as higher costs to cover agreed increase of school employee's salaries,” said Bujnakova.
