Structural Reforms and Economic Outlook of Slovakia

Prudent Fiscal Policy to be Reintroduced in 2022 ARDAL Since the Global Financial Crisis in 2009, Slovakia successfully reduced the government deficit by 6.8 p.p. of GDP (2019) Deficit deterioration since 2020 reflects the outbreak of COVID-19 pandemic Medium-term fiscal consolidation is expected to start in 2023 (structural consolidation of 1 p.p. of GDP annually) General Government balance % of GDP 6.0 4.0 2.0 0.0 - 2.0 - 4.0 - 6.0 - 8.0 - 10.0 - 12.0 2007 2008 2009 2010 2011 2012 ■Slovakia EU Government budget deficit rule (-3%) 2018 2019 2020 2021e 2022e Belgium 2014 2015 2016 2017 2013 Euro area - 19 countries (from 2015) Finland H 18 Source: Eurostat, EC Spring forecast 2021

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