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| Slovakia will run out of taxes and levies on November 17, it will start operating on debt |
| Bratislava, 17.11.2024 |
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| Slovakia will start operating on debt from November 17, because the state will run out of taxes and levies collected from residents and companies. This means that for the next month and a half, the state has to borrow in order to finance all public services and pay employees' wages, pensions and benefits. This was pointed out on Friday by the Institute of Economic and Social Analyses (INESS).
"In Slovakia, public sector revenues have climbed to a record level of EUR 53.5 billion this year. In 2018, it was €34.5 billion. If we adjust this increase for the impact of inflation, public revenues have increased by 12% in six years. This means that the government has almost six billion euros more in real terms this year than it had in 2018," the institute pointed out.
According to INESS, public expenditure grew even faster than revenues and will reach 61.3 billion euros this year. At the same time, in 2018, the state spent 35.2 billion euros. Adjusted for inflation, this is a 26.4 percent increase in six years. According to INESS, the government is spending almost 13 billion euros in real terms this year "The fact that the state has been operating 'on an axe' since November 17 is therefore not a consequence of low public revenues, but of inadequately high public spending. Their share in the economy has risen from 37% to 47% today since 2007-2008. This is one of the fastest increases in the EU," INESS explained. According to him, the consolidation of public finances should therefore not take place on the revenue side, but on the expenditure side.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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