Fico: Slovakia’s Budget Among Five Best in Eurozone

Finance Minister Peter Kazimir (left) and Prime Minister Robert Fico. (Photo by TASR)

Bratislava, November 18 (TASR) – Slovakia’s state budget is one of the five best state budgets in the eurozone, Prime Minister Robert Fico said on Friday in reaction to a recent evaluation by the European Commission.

“Slovakia has again been ranked among the five best eurozone states when it comes to the quality of budget. The budget meets very tough criteria contained in the Growth and Stability Pact, apart from further criteria expected by the eurozone from its member countries,” said Fico.

The prime minister noted that Slovakia has secured such a ranking for the third time in a row. “Following the successful consolidation of 2012-2013, we’ve managed to get Slovakia out of the excessive deficit procedure, with budgets for 2015 and 2016 being fully in line with European rules, like next year’s budget,” stated Fico.

The Commission’s evaluation must still be debated by the council of eurozone finance ministers and subsequently also by ECOFIN in early December. “Slovakia is going there very comfortably, having the evaluation of being in a very good group,” said Slovak Finance Minister Peter Kazimir.

The European Commission earlier this week announced that only five eurozone countries had presented budgets in full compliance with EU rules – Estonia, the Netherlands, Luxembourg, Germany and Slovakia. Meanwhile, France, Portugal and Spain have been placed in the excessive deficit procedure.