Structural Reforms and Economic Outlook of Slovakia

Government's Objective to Stabilize Post-Pandemic Debt ARDAL ✓ ✓ Public debt on a declining trajectory since 2014, with cumulative decrease of 6.5% of GDP until 2019 Previous debt to GDP ratio decline driven by macroeconomic growth, inflation and primary surpluses Outbreak of COVID-19 elevated public debt by more than 12 p.p. of GDP Medium-term objectives: 1) stabilization of debt to GDP ratio Percentage Points 18 15 12 6 0 2) subsequent consolidation well below 60 % Change in the Public Debt to GDP Ratio -3 2012 2013 2014 2015 2016 2017 ■Slovakia ■Finland 2019 ■Euro area - 19 countries (from 2015) 2018 2020 2021e ■Belgium 2022e ‡ Source: Eurostat, EC spring forecast 2021 19

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