President Pellegrini Signs Law on State Budget for 2025

        Bratislava, December 6 (TASR) - President Peter Pellegrini signed on Friday the law on the state budget for next year, President Office's communications department told TASR on the same day, adding that the head of state believes that the government will closely monitor the budget's impact on people during the year and, if necessary, will find ways to help if the weaker groups of society are threatened.
        MPs approved the law on the 2025 state budget on Tuesday (December 3). The general government deficit is expected to fall to 4.7 percent of gross domestic product (GDP) next year from this year's expected 5.8 percent of GDP. The state budget deficit should thus amount to €6.4 billion.
        Total state budget revenues for next year are projected at €27.6 million, with expenditures at €34 billion. Public administration revenues should reach €59.9 billion or 42.8 percent of GDP. The total spending of the public sector is budgeted at €66.5 billion or 47.5 percent of GDP.
        The deficit should continue to decline in the upcoming years, in particular to 3.7 percent of GDP in 2026 and to 3 percent of GDP in 2027. Additional consolidation measures equalling 1.9 percent of GDP or €2.8 billion need to be taken by 2027 to achieve these targets. "The consolidation measures presented by the government have ensured that the target for 2025 will be achieved. For the year 2026, the currently set budget deficit is higher by 0.4 percent of GDP, and in 2027 [it is higher] by 1.9 percent of GDP," said the Finance Ministry.