Kamenicky: Consolidation Measures Likely to Be Unveiled on Friday of Next Week

Bratislava, 28 August (TASR) – The Slovak government will unveil its fiscal consolidation measures next week, probably on Friday (5 September), Finance Minister Ladislav Kamenicky (Smer-SD) announced following Thursday's coalition council session focused on budget reform. He was joined at his press briefing by Labour Minister Erik Tomas (Voice-SD), who confirmed that key social benefits will remain unaffected. According to the ministers, the coalition has already agreed that VAT rates won't change, that contributions to the second pension pillar won't be reduced, and that social benefits — including pensions, family allowances and support for the vulnerable — will neither be cut nor lowered. "Significant cuts are coming, and consolidation will impact public administration, but we have to look for savings," said Kamenicky, adding that full details of the measures will be presented at the end of next week. Tomas emphasised that the decision to protect social benefits was final. "Today we reached a firm agreement that there will be no cuts to benefits such as pensions, family allowances or support for the disadvantaged," he said, noting that 94 percent of the Labour Ministry's budget is allocated directly to benefits, with only 6 percent covering operations and employment. He added that his ministry will still contribute to the overall savings effort via internal cost-cutting. "The entire discussion at today's coalition council session was focused solely on reducing state expenditures. The full consolidation package should be ready for presentation next week," said Tomas. mf/df