Changing demographics already increasing Slovakia's public finance deficit

Changing demographics already increasing Slovakia's public finance deficit

Contributions to the public budget by economically active people did not cover spending on children and the elderly last year, creating a deficit of €1.7 billion, which will increase over time, the Institute for Strategy and Analysis (ISA) stated in its latest review of economic developments.

The institute pointed out that the net contributors to public finances are mainly people of working age, which means between 15 and 64 years of age. In 2023, according to the Budgetary Responsibility Council (RRZ), their average contribution was €4,900 per person, mainly through taxes and levies. "Although the number of contributors is almost double compared to the inactive population, it isn't enough," noted the ISA.

Source: TASR

Romana Grajcarová, Photo: TASR

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