The Slovak government’s measures to consolidate public finances have failed to deliver the expected results, according to a new report by the Supreme Audit Office (NKÚ).
Analysts note that Slovakia’s public debt has risen to nearly €84 billion, with debt per capita exceeding €15,500. Over the past year, this figure has increased by approximately €1,200.
In addition, Slovakia’s economic growth slowed to 0.8% in 2025, marking the weakest performance in the past three years. Despite a reduction in the budget deficit, public debt continued to rise, reaching 61.4% of GDP and exceeding the threshold set by the Maastricht criteria.
The auditors conclude that the government’s fiscal consolidation measures failed to achieve their intended effect. According to the report, of the planned €1.9 billion in additional budget revenues, the state collected only around €1.5 billion. The largest shortfalls were recorded in revenue from the financial transaction tax and corporate income tax.
At the same time, the government failed to reduce its own spending. The payroll budget for ministries and other public institutions increased by more than 5% over the past year, while the number of public sector employees also grew. Current government expenditure reached €28.5 billion, including more than €364 million spent on external services, such as legal support.
NKÚ stresses that in order to stabilise public finances, the authorities should primarily focus on reducing administrative costs and improving the efficiency of public spending. According to the Office, around €81 billion of the country’s total debt is attributable to government institutions.
The auditors also paid particular attention to major investment projects. According to the report, 16 projects, including those in transport, defence, and education, were launched without the mandatory assessment by the Ministry of Finance’s unit responsible for evaluating the efficiency of public expenditure.
Problems also persist in the healthcare system. Spending on medicines once again exceeded the approved budget by nearly €70 million, while the combined debt of healthcare institutions increased to €2.42 billion. Of this amount, approximately €1.4 billion is owed by 13 state-owned university and teaching hospitals.
According to NKÚ, increasing public spending alone does not solve the underlying problems. The auditors argue that public funds should be directed primarily towards projects capable of delivering tangible benefits for both the economy and the population.
