Slovakia's Public Finance Deficit Rose to 5.5 percent of GDP in 2024

Bratislava, 13 February (TASR) - Slovakia's public administration deficit according to single European methodology reached 5.5 percent of gross domestic product (GDP) or €7.2 billion in 2024, up by 0.2 percentage points (p.p.) year-on-year, according to the Summary Annual Report of the Slovak Republic for 2024, which MPs acknowledged on Friday. Total public administration revenues in 2024 stood at €54.6 billion (42 percent of GDP), and total expenditures at €61.8 billion (47.5 percent of GDP). Revenues increased by €1.6 billion year-on-year, and expenditures by €2.2 billion, according to a report by the Finance Ministry. The gross public debt reached €77.7 billion (59.7 percent of GDP) at the end of 2024, going up by 3.9 percentage points year-on-year, or €8.9 billion in nominal terms. The net debt reached €66.9 billion (51.4 percent of GDP), an increase of 3.3 percentage points when compared to 2023. The state's cash reserve amounted to €7.6 billion as of December 31, an increase of €960 million year-on-year. In the eurozone, the average deficit fell by 0.4 percentage points, from 3.5 percent in 2023 to 3.1 percent of GDP in 2024. Across the EU as a whole, it fell more moderately, from 3.4 percent of GDP to 3.1 percent of GDP, a decrease of 0.3 percentage points. The public debt in the euro area rose from an average of 87 percent of GDP at the end of 2023 to 87.1 percent of GDP at the end of 2024. This represented a deterioration of 0.1 percentage points. Across the EU as a whole, the debt rose from 80.5 percent of GDP to 80.7 percent of GDP, an increase of 0.2 percentage points. am/df