Slovak economic consolidation measures concerns

The Slovak government's recent economic consolidation measures have sparked strong reactions from employers, trade unions, and opposition parties. Employers worry these measures will harm Slovakia’s EU competitiveness, focusing more on increasing revenue than on cutting public spending, potentially leading to a GDP decline and reduced foreign investment. The Confederation of Trade Unions warns that low-income earners will bear the brunt of increased costs. In the tourism sector, employers oppose a proposed 23% VAT on accommodation services, fearing a €270 million revenue loss and thousands of job cuts.

Opposition party Progresívne Slovensko (PS) urges the government to protect healthcare funding amid these changes, warning that cuts could severely affect public health services. The debate is ongoing as stakeholders await further discussions.

Source: TASR