First budget surplus expected in Slovakia in 2019

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Slovakia – Slovakia will reach her first budget surplus in 2019. Economically she outperforms many of the member countries and differentiates herself. Last year the only countries that ran a budget surplus were Germany, Estonia and Luxembourg.

“Slovakia is doing very well economically,” Prime Minister Robert Fico said at a press conference in Bratislava. “Primarily this is based on fiscal consolidation and, on the other hand, promoting economic growth.” The fiscal plan of the government forecasts a budget surplus of 0.16 per cent of gross domestic product in 2019, following an expected 1.29 per cent in 2017 and around 2 per cent in 2016. This is in part thanks to the private investment into Slovakia’s manufacturing industry and steady demand for export. Foreign investment is expected to increase the output.

“We are one of the best performers in the euro area,” said Slovakia’s Finance Minister Peter Kazimir. His reform plans include cutting corporate tax by 1 percentage point to 21 per cent, alongside levying a 15 per cent tax on dividends.

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