Kamenický: We will prepare the 2027 budget in line with the EU fiscal rules
Bratislava – The state budget for next year will be prepared in accordance with the fiscal rules set by the European Commission (EC). The Slovak economy and the state’s management are significantly affected by negative trends in the global economy. Minister of Finance Ladislav Kamenický (Smer-SD) pointed this out at a press conference on Wednesday, TASR reports.
“We are acting responsibly. We have certain fiscal rules set at the level of the European Commission, which we follow. Each of us has set some trajectories and we will communicate with the European Commission. We cannot just decide to make whatever deficit we like, because the financial markets will react to that. We want to draw up the budget for next year in accordance with the fiscal rules,” stated Ladislav Kamenický.
He did not want to talk about the detailed parameters of the budget yet. He pointed to developments in the world, for example events around Greenland and the threat of further tariffs in global trade, as well as the stagnating German economy, on which the Slovak economy depends.
“On the basis of the spring forecast, where I will obtain figures on our tax collection, our macro indicators, and what economic growth will be, the process will begin through which we will try to draw up the budget itself,” specified Kamenický. He announced that the Ministry of Finance of the Slovak Republic will also try to push through an amendment to the Act on Budgetary Responsibility, the so-called debt brake.
The minister expects that those concerned will discuss support for the changes with the opposition as well. This is a constitutional law, the amendment of which must be supported by at least 90 members of parliament, meaning that in addition to the coalition, part of the opposition must also support it.
He pointed out that the need to amend the Act on Budgetary Responsibility is also mentioned by the International Monetary Fund (IMF) in its current report on Slovakia. (28 January)
