Slovakia’s government has presented its draft budget for 2026–2028, aiming to reduce state spending by 535 million euros next year. This includes 375 million in cuts to ministries and offices, a 160 million freeze on public sector wages, and 130 million in savings from local governments. Energy support for citizens is planned at 420 million euros, expected to be funded from EU sources.
Despite these measures, the Council for Budget Responsibility warns that without additional consolidation, the fiscal deficit could exceed 5 percent of GDP by 2027, and public debt could rise to 65.7 percent of GDP by the end of the parliamentary term. The council emphasized the need for sustainable, long-term consolidation, cautioning that some assumed savings may be temporary.
The budget has drawn sharp criticism from opposition MPs. Michal Šimečka (PS) called it unrealistic, predicting economic stagnation, high inflation, and growing poverty. Július Jakab (Slovensko) described it as a “budget of bankruptcy,” claiming the government’s measures fail to reduce debt and burden citizens further, including cuts to hospitals, schools, and public services.
President Peter Pellegrini has signed a consolidation package, stressing that implementing the measures will be challenging but necessary to stabilize public finances while maintaining social programs.
Source: TASR
