Slovakia’s National Council has approved the government’s draft state budget for 2027. A total of 76 MPs voted in favour, the minimum number required for its adoption.
Under the approved plan, state budget revenue in 2027 is projected at €63.343 billion, while expenditure is expected to reach €70.786 billion. The planned deficit stands at €7.443 billion, or 4.94% of GDP.
The budget was supported by MPs from the governing coalition parties Smer, Hlas and SNS, as well as three representatives of Strana vidieka, led by Sports Minister Rudolf Huliak. Opposition MPs did not register for the vote, describing the proceedings in parliament as a disgrace. Tomáš Taraba, who was recently removed from his post as environment minister, also abstained.
Coalition Talks of Stability, Opposition Warns of Risk of Financial Collapse
Hlas leader and Interior Minister Matúš Šutaj Eštok described the budget as a “stabilising element of the governing coalition”. The opposition, however, criticised the plan, warning that the country could face financial collapse. According to Michal Šimečka, leader of Progresívne Slovensko, the consequences of the current policies could eventually leave Slovakia in a position where international creditors dictate its terms.
Opposition MPs have already filed a petition with the Constitutional Court. They argue that the budget fails to consolidate public finances and does not comply with the constitutional law on fiscal responsibility, which, in their interpretation, requires the government to present a balanced budget.
SaS MP Martina Marcinová pointed out that Slovakia is at the highest level of the debt-brake sanctions mechanism, yet the government has not presented a plan to reduce public debt. In her assessment, by the end of 2027, the debt will be €31 billion higher than it was when the current government took office.
Marcinová also linked increases in taxes and contributions to business closures and companies relocating abroad. According to her, more than 5,500 people have lost their jobs as a result. She believes that Slovakia’s EU membership and access to European funds are among the main factors protecting the country from a financial crisis.
Experts Warn of Risks from Rising Debt
The Council for Budget Responsibility (RRZ) has also criticised the budget policy pursued by Finance Minister Ladislav Kamenický. According to the council, the government has effectively abandoned a consistent approach to fiscal consolidation, postponing a substantial share of the necessary measures until later years.
RRZ chairman Ján Tóth noted that, despite extensive consolidation measures in recent years, Slovakia has made little progress towards a level at which public debt could be stabilised. Further measures are being deferred until a period when debt will be higher, borrowing costs will be greater and the tax burden will be at a record level. In the council’s view, these factors are undermining the economy’s competitiveness.
The council’s forecasts point to a possible further deterioration in public finances. According to RRZ calculations, public debt could rise to 73.5% of GDP by 2029, while the budget deficit could reach 6% of GDP.
