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| Parliament okays preparation for the easing of the debt brake |
| Bratislava, 13.09.2017 |
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| But any change will need opposition support which is very much lacking at the moment.
The Slovak Parliament on September 11 adopted a resolution on easing the state’s debt brake in order to facilitate the construction of road and rail infrastructure. The resolution in the 150-member parliament was adopted with the votes of 76 MPs. It obliges the parliamentary committee of finances to prepare a revision to the constitutional law on budgetary responsibility and submit it to parliament for adoption.
However, the support which the resolution won in parliament, is not necessary for its final adoption. This is because at least 90 votes will be needed to change the existing constitutional law. So, the ruling coalition will also need some votes from the opposition to push the change through. However, the opposition disagrees with easing the debt brake.
No opposition MP voted for the resolution. This lessens the chance that the debt brake will be eased.
Slovakia introduced the debt brake in 2011 to prevent an increase of government debt to critical levels and to achieve the long-term sustainability of public finances. Now, in the face of diminishing EU funds and lacking millions of euros for the completion of the highway network in Slovakia, Fico and other coalition politicians want to soften the debt brake and introduce a so-called investment exemption so the state can utilise the current favourable conditions on the financial market and take new loans to finance, for example, highway and railway infrastructure projects.
odkaz na stránku |
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Address : Euro-Brew Ltd., Hlboká 22, 917 01 Trnava, Slovakia
Tel. : +421 33 53 418 53, Fax : +421 33 53 418 52, E-mail : info@eurobrew.sk |
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