The General government deficit of the Slovak Republic in 2024 amounted to 5.50% of GDP. This result is worse than the initial estimate made in April

The General government deficit of the Slovak Republic in 2024 amounted to 7.2 billion EUR. Its value compared to 2023 increase by 0.6 billion euros. The total General government increased by 8.8 billion EUR year-on-year approaching the level of 60% of GDP.

The total General government deficit in 2024 reached 7.2 billion EUR, which represented 5.50% of the Gross Domestic Product (GDP) of the Slovak Republic. Compared to the first estimate from the spring (the so-called spring EDP notification), it was a deterioration of more than 250 million EUR.

After the update, the General government deficit increased by 0.6 billion euros year-on-year in 2024. The deficit in 2023 reached 6.5 billion euros, which represented 5.30% of GDP.

The fall result was influenced by data refinements, accounting for updates on revenues and expenditures as well as by the so-called planned autumn revision¹⁾ of GDP data.

In accordance with international obligations, the SOSR compiles and transmits to European Commission and Eurostat data on debt and deficit for the general government sector, always by April 1st and updated data by 1 October of the calendar year. The revised data on government finances for 2024 (the so-called autumn notification on the deficit and debt of the Slovak Republic or also the EDP notification) have now been submitted. At the same time, the data on government finances for the previous three years are always revised, and the data from 2021 have now been adjusted.

The predominant of last year's deficit was created by the central government. Its finances ended with a deficit of 7.4 billion euros, which was more than in 2023, when it managed with a deficit of 6.9 billion euros. Compared to the first estimate from spring 2025, this is a deterioration of 255 million euros.

Likewise, local government managed with a deficit of almost 102 million euros last year, which was a deterioration compared to 2023. Social security funds recorded a surplus of 348 million euros last year, their current surplus was 71 million euros higher compared to 2023.

Revision of the 2024 deficit compared to the spring estimate

The General government deficit for the year 2024 has therefore increased by 250.3 million EUR compared to the April estimate. The greatest impact on state revenues was due to lower collection of taxes related to so-called solidarity contribution by 155.7 million EUR followed by lower collection of corporate income taxes and personal income taxes. At the same time, the volume of received social contributions and the value of receivables related to support provided in relation to high energy prices increased compared to April.

Revision of the deficit for years 2021-2023 compared to the spring estimate

As for the years 2021 to 2023, deficit adjustments compared to the April data ranged from -115.1 million EUR to +116.2 million EUR. The impact on the deficit due the sector reclassification of units ranged from -0.3 million EUR to +4.1 million EUR. The more significant impact on deficit had accrual adjustment of taxes between 2022 and 2023 in the amount of 114.9 million EUR. Other changes were also incorporated, but they did not affect the deficit, but only the structure of national accounts transactions.

The General Government debt reached 59.7% of GDP

The General Government debt in 2024 reached EUR 77.7 billion, which corresponded to 59.7% of GDP (after the autumn revision of GDP¹⁾). The value of the General Government debt increased year-on-year by 8.8 billion EUR. In the previous year, 2023, the debt-to-GDP ratio was still at 55.76%.

Regarding changes affecting the so-called Maastricht debt, the most significant impact on 2024 level was the revision of debt related to support of green energy production, which increased debt by 90.6 million EUR. This change concerned only year 2024. Revisions of debt for year from 2021 up to 2023 ranged from -14.0 million EUR to 9.6 million EUR and were caused by sector reclassification of institutional units.

General note on methodology

When compiling the indicators for the General Government sector for the year 2024, the work of Statistical Office of the SR was based on standard data sources and adjustments, which were also implemented in previous periods.

For the evaluation of the General Government sector, other data are also important in addition to those that were the subject of the notification, therefore the SO SR also publishes the stock of selected financial assets of the General Government sector for the years 2021 - 2024 (Annex 1 - Update of the deficit and debt for the years 2021 - 2024).

Data on deficit and debt for EU member countries will be published by EUROSTAT on Tuesday, October 21, 2025 at 11:00 a.m.