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| The Ministry of Finance of the Slovak Republic explained the quarterly increase in Slovakia's debt |
| Bratislava, 01.08.2025 |
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| The quarterly assessment of the state debt is not a relevant indicator, because the debt fluctuates significantly during the year. The quarterly figure, according to which the debt increased by 5 billion euros, is also fundamentally distorted. In the first quarter of this year, the state borrowed 5.3 billion euros on the market, but the repayments for other loans that reduced the debt were made only in the second quarter. This was explained by the Ministry of Finance (MF) of the Slovak Republic in response to statements that the Slovak Republic is borrowing too quickly.
"The year-end level of debt is essential, i.e. the status as of December 31 of the given year. Only that is assessed by investors, rating agencies and other important institutions," the Ministry of Finance emphasized.
The Ministry of Finance of the Slovak Republic further commented on the indicator, which says that the debt increased by 3.5% of gross domestic product (GDP) during the first quarter. According to the ministry, Eurostat is taking a simplified approach to calculating the annual GDP this year and is underestimating it. It cumulates the GDP for the first quarter of 2025 and the previous three quarters of 2024. The cumulated GDP is significantly lower than what the Ministry of Finance expects for 2025, which also increases the debt as a percentage of GDP.
In this regard, the ministry explained that the nominal debt was higher at the beginning of the year because Eurostat had not yet taken into account any bond maturities that would later reduce the debt. At the same time, this debt is reported proportionally to a lower GDP than the Ministry of Finance currently expects this year.
Finally, the ministry recalled that without consolidation, the debt would have increased by another 40 billion euros by 2027, rising to 71.4% of GDP, which is more than 110 billion euros. However, due to the impact of consolidation, the debt level should be approximately 15 billion euros lower, the Ministry of Finance calculated.
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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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