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The government deficit for 2019 reached 1,3 % GDP

The government deficit for 2019 reached 1,3 % GDP

Last update: 22.04.2020
Ilustratívny obrázok/Illustrative image
Publisher: Headquarters Bratislava
Topic: Macroeconomic statistics
Domain: National accounts
Publish Date: 22.04.2020

 

 

The Statistical Office of the Slovak republic publishes the data on Government deficits and debt levels to the European Commission (Eurostat) before 1st April 2020.

The deficit of the general government sector for the year 2019 reached 1 220 mil. EUR, which is 1,30 % of the Slovak Republics gross domestic product (GDP). The level of debt for 2019 reached 45 202 mil. EUR, which is 48 % of GDP.

Results from the Report of Government deficits and debt levels by the Slovak Republic published today by the Statistical Office of the Slovak Republic. The report was submitted by SOSR to the European Commission (Eurostat) at regular transmission date before 1st April. In line with requirements of international obligations the Slovak Republic reports data on deficits and debt levels for the general government for the purpose of assessment of so called Maastricht criteria in the field of the budget and regularly, twice a year, reports it the EC (Eurostat) always before 1st April, and updated data before 1st October of the calendar year.

The report contains data on deficits and debt levels for the years 2016 - 2020. The data for 2019 are the first relevant semi-definitive results for SK General government sector for 2019. The data for 2020 are the planned budgeted data. The presented planed data do not contain estimated impacts of outbreak of COVID – 19 (the estimate was not available for the transmission of data to Eurostat).

The deficit of general government in the year 2019 increased in comparison to 2018 by 279 mil. Eur which is 0,25 % of GDP. The level of the General Government debt increased in comparison to the year 2018 by 879,9 mil. Eur, which relative to GDP figures resulted in decrease of 1,4 % GDP; The level of debt did not cross the sanction levels stipulated by the Constitutional Act of 8th December 2011 on Fiscal Responsibility.

 

Deficit and debt levels for 2016 - 2020

mill. EUR

  2016 2017 2018 2019 2020 (1)
Deficit -2 006,6 -805,0 -940,6 -1 2019,7 -480,4
Deficit / GDP v % -2,48% -0,95% -1,05% -1,30% -0,49%
Debt 42 159,8 43 369,5 44 321,9 45 201,8 45 894,9
Debt / GDP v % 52,02% 51,31% 49,40% 48,00% 46,81%
GDP 81 038,4 84 517,0 89 721,0 94 177,0 98 043,7

 

2016, 2017 - final data; 2018, 2019 half-finalized data
(1)) Plan for 2020 was compiled by the Ministry of Finance of the Slovak Republic (the plan was not updated for budgetary impacts of COVOD-19)
(2) "M" - not applicable, data do not exist; "L" - data not available

 

The level of deficit of the General government sector in 2019 was negatively impacted mainly by worse deficits carried out by state budgetary organisations, state funds (mainly related to liabilities towards operators of nuclear facilities, which are related to their future decommissioning) and budgetary organisations of higher territorial units and municipalities.

In comparison to the report submitted by the Slovak Republic to the European Commission in October 2019 SOSR implemented change of data for year 2018, the level of deficit is -1,05 % GDP (compared to 1,06 % GDP published for 2018 in October notification). The change related to the year 2018 is linked to the standard update of information on accrual taxes.

The data on deficits and debt levels for the general government are compiled on the basis of accounting statements, additional documents and information on subjects classified in the general government sector in accordance with the European  system  of  national  and  regional  accounts  in  the  European  Union methodology (ESA 2010), and with other methodical guidelines and recommendations of Eurostat relevant for the evaluation of deficit and debt for general government sector.

Reporting of data on deficits and debt levels for the general government is carried out in compliance with the Article 3 of the Council Regulation (EC) No. 479/2009 of 25th May 2009 on the application of the Protocol on the excessive deficit procedure annexed to the Treaty establishing the European Community and subsequent amendments.

  • Issued by :

  • Statistical Office of the SR
  • Miletičova 3
  • 824 67 Bratislava
  • Slovak Republic
  • Information Services :

  • tel. +421 2 50 236 339
  • +421 2 50 236 335
  • e-mail: info@statistics.sk

While publishing of the whole information report or its parts, please state the source of information, the Statistical Office of the Slovak Republic

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