Investor Presentaiton

The Main Fiscal Reform of Managing Public Finance 2ARDAL 2003 Agentúra pre riadenie dlhu a likvidity 2023 Dobi and Liquidity Management Agency In 2023 the Parliament approved ceilings on public expenditure for 2023-2025 The ceilings now serve as a main operation tool to achieve long-term fiscal sustainability starting from 2023 and thereafter for whole election period as from 2024 ✓ Calculation of expenditure limits is based on risks of long-term sustainability indicator and executed and updated by independent Council for Budget Responsibility ✓ Required structural consolidation of 0.5% of GDP in case of high/medium risks and 0.25% in case of low risks Expenditure ceilings incorporate escape clauses that can be triggered in circumstances of economic downturn of 0% or -3%, or one-off measures related to extraordinary events ✓ ✓ Ceilings are also tied to EU general escape clause (still active in 2023) Amendment of debt brake rule that would strengthen operationalization of the framework waiting for final approval by Parliament ✓ Main changes come with substituting indicator from gross to net debt Rationalizing of sanctions while enhancing their enforcement ✓ Modification of escape clauses to ensure flexibility キ 25

View entire presentation