Reaction of the Ministry of Finance of the Slovak Republic to the criticism of the balanced budget

Last update: 11.10.2023 19:00

The Ministry of Finance of the Slovak Republic (MoF SR) respects the rules of the budget preparation process. In preparing the budget, the MoF SR’s first priority was to ensure that all written and unwritten rules and legal procedures were adhered to throughout the process. Otherwise, the MoF SR could set a dangerous precedent for the future. Safeguarding the transparency of the budget preparation process is a basic constitutional function of the Council for Budget Responsibility and its position is therefore considered inadequate by the MoF SR.

When preparing a balanced budget, the MoF SR could find the necessary cuts only in the so-called non-mandatory items. These are available to the government without the need for parliamentary approval of the legislation. Such an approach has so far long been advocated by the Council for Budget Responsibility itself, which is why the change in their long-term stance on this issue is surprising. Therefore, in the draft budget, the MoF SR proposes mainly savings on operating costs, staff costs and investments.

If we were to follow the Council for Budget Responsibility's instructions, there would be a risk that the MoF SR would act beyond its mandate and current competences.

Press Department
Ministry of Finance of the Slovak Republic