Matovic: Fico’s Gov't Driving Slovakia Toward Bankruptcy

Bratislava, 1 July (TASR) – The government of Prime Minister Robert Fico (Smer-SD) is leading Slovakia toward bankruptcy and economic collapse, according to the opposition's 'Slovakia' party. Speaking at a press conference on Tuesday, MP Julius Jakab cited recent forecasts by the Council for Budgetary Responsibility and the Finance Ministry. "The Council for Budgetary Responsibility said this government is spending the most money in Slovakia's history. They are indebting the country at a record pace," Jakab stated. "The second report, released yesterday (30 June) by the Finance Ministry itself, shows that people are no longer willing to pay taxes," he added. As a result, he said, the state will not raise the billions it expected from newly introduced taxes, because people either cannot afford them or won't pay in protest against the government. Jakab again criticized the Cabinet for imposing heavy tax burdens as well as increasing fees for residents, and mismanaging public spending. Party leader Igor Matovic warned that continuous tax hikes could lead to a point where citizens can no longer pay, thus reducing overall revenue. “The government should finally start slashing its own expenses instead of impoverishing the public,” Matovic said. In June, the Council for Budgetary Responsibility raised its projected public deficit for 2024 to 5.2% of GDP, or €7.1 billion. The shortfall from the government’s official budget target is now estimated at 0.5% of GDP (€614 million), representing a medium risk to fiscal compliance. Meanwhile, the Finance Ministry forecasts GDP growth of just 1.3% for 2025 - down 0.6 percentage points from its February estimate. mf