Slovak government warned to avoid racking up debt

Published at: 2019-06-12 09:22 | Author: CIJEurope.com

The governor of Slovakia's central bank Peter Kažimír is warning the government not to pull the country into debt as it prepares its budget for 2020. The Slovak economy has come off the boil since the last budget was negotiated (when Kažimír was finance minister) and that the budget has assumed GDP growth of 4.6 percent. "On the one hand, we have strong data about the Slovak economy, but on the other we note the increasing risks in the global economy. That's why we're reducing our estimates for GDP growth to 3.3 percent," he said. As finance minister, Kažimír had pushed for a balance budget, but he's now warning that this goal may not be achieved.