Fico Claims Slovakia's Public Debt Is 'Very Solid,' Points to Below-EU-Average Figures

Slovak Prime Minister Robert Fico has described the country's public finances as being in strong shape, citing public debt levels that he says fall below the European Union average. Fico argued that the figures confirm Slovakia faces no fiscal problem, framing the data as evidence of sound financial management under his government. The remarks come amid ongoing scrutiny of Slovakia's fiscal position. The European Commission and international observers have previously raised concerns about Slovakia's budget deficit, which in recent years has been among the higher ones in the EU relative to the size of the economy. Fico, who leads Smer-SD, the ruling left-nationalist party that returned to power in 2023, has repeatedly pushed back against such assessments, arguing that external criticism of Slovakia's finances is overstated. While public debt as a share of GDP can indeed be below the EU average, economists and EU institutions have drawn a distinction between stock of debt and the pace at which new deficits are being added — a nuance that critics say Fico's framing glosses over. Slovakia is currently under EU fiscal surveillance procedures due to its elevated deficit levels.