Slovakia's Budget Deficit Likely Smaller Than Expected at 4.6 Percent in 2024

Slovakia's public finance deficit for 2024 was likely lower than previously estimated, reaching approximately 4.6 percent of GDP according to the National Bank of Slovakia (NBS). The central bank's preliminary assessment suggests the country's public administration performed better than initially projected, with state transport companies and several state-purpose funds contributing to the improved figures. However, the Council for Budget Responsibility, Slovakia's fiscal watchdog, cautioned that much of the savings are only temporary in nature. The council emphasized that despite the better-than-expected results, Slovakia still requires further fiscal consolidation measures to address its long-term budget challenges and meet European Union deficit targets.