Government is preparing a €1.5bn (1.1% of GDP) package

The government is preparing a €1.5bn (1.1% of GDP) package with new revenue streams and spending cuts, Finance Minister Ladislav Kamenický said. Previously, he capped the consolidation efforts at 0.5% of GDP. Slovakia has the largest public finance deficit among EU states in 2023-24, and Kamenický wants to show investors that he has a clear and credible plan to reduce it. He predicts that energy subsidies will no longer be needed next year, which will improve the public finance balance by €1bn. Budget revenues are also set to be boosted by changes in the health sector, with the government having already increased health levies for this year. Further measures may include a sugar tax and higher personal income taxes.

(dennikN.sk)