Slovakia to Unveil Austerity Package to Win Bond Investors
- Finance chief eyes €1.5 billion in cuts, tax revenue next year
- Kamenicky cites Slovakia’s ‘clear consolidation trajectory’
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Slovakia’s new government is working on a €1.5 billion ($1.6 billion) package of measures to cut spending and increase revenue next year as it reins in the widest budget deficit in the European Union.
Finance Minister Ladislav Kamenicky said the government aims for a reduction in the budget deficit by the equivalent of about 1% of gross domestic product annually in the next few years. Winding down energy subsides and overhauling the health-care system to boost efficiency will yield budgetary gains, he said.