The deficit of the general government for the year 2019 reached 1 269 mil. EUR, which equate to 1,35 % of Gross Domestic Product (GDP) of the Slovak Republic. The level of debt for 2019 reached 45 485 mil. EUR, which corresponds to 48,46 % 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 contains updated semi-definitive economic results for general government sector SR for 2019 and also reports updated data for 2016-2020. The data for 2020 are the planned budgeted data on deficit, level of debt as well as GDP valid at the date of submission. The planned figures contain estimated impacts of outbreak of COVID – 19.

In comparison with spring notification (the first semi-definitive estimate of deficit and debt) economic results of the general government for 2019 ended in deficit higher by 49 mil Eur, which is increase from 1,3% GDP to 1,35% GDP. The total level of debt is currently higher by 284 mil. Eur, which is 0,46 % more than in April. 

The report was submitted by SOSR to the European Commission (Eurostat) at regular transmission date before 1^st October. 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 1^st April, and updated data before 1^st October of the calendar year.

The deficit of general government in the year 2019 increased in comparison to 2018 by 382 mil. EUR, which is 0,41 % of GDP. The level of the General Government debt increased in comparison to the year 2018 by 854,9 mil. EUR, which relative to GDP figures resulted in decrease of 1,4 % GDP.

Deficit and debt levels for 2016 - 2020

in mil. EUR

2016, 2017 - final data; 2018, 2019 half-finalized data
⁽¹⁾ Plan for 2020 (including forecasted level of GDP) was compiled by the Ministry of Finance of the Slovak Republic
⁽²⁾ "M" - not applicable, data do not exist; "L" - data not available

In comparison to the spring 2020 report, submitted by the Slovak republic to the European commission, SOSR implemented several improvements into the system of national accounts affecting the figures on deficit and debt of the general government sector. The methodological changes are related to sector classification of units and change in recording of liabilities of general government towards electricity distribution companies linked to support paid out on production of energy from renewable sources. In addition to these changes, an usual update of source data and information related to 2019 was also implemented. In comparison to spring notification the level of tax revenues was updated by -74,197 mil. EUR and update of information on levels of payables and receivables impacted deficit by +7,755 mil. EUR.

The data on deficit 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.

Eurostat will publish data on deficit and levels of debt for EU member states on 22nd October 2020 at 11:00 a.m.