Kiss: Public Debt Has Swelled by €1,500 per Capita under This Government

Bratislava, April 24 (TASR) - Slovakia's public debt is rising significantly and now amounts to more than €14,000 per capita, meaning that since the incumbent government of Robert Fico (Smer-SD) took office it has increased by €1,500 per capita, said Stefan Kiss (Progressive Slovakia), a member of the House finance and budget committee, on Thursday. "This is what fiscal consolidation looks like under Finance Minister Ladislav Kamenicky and Robert Fico, who have been in power for a year and a half. They blame their predecessors, yet they're increasing debt and causing inflation. It's complete amateurism,” said the opposition MP. According to Kiss, there are two main ways to mess up consolidation. One is by implementing measures that stifle the economy and reduce future growth potential — such as introducing a transaction tax. The other is by failing to cut government spending, leading to money being wasted on overpriced purchases or salary increases. However, Kiss claims that the finance minister has found a third way: doing everything wrong at the same time. "He imposed Fico's price hikes on the public and simultaneously accelerated debt accumulation. In 2023, the public debt per capita was €12,701; in 2024, it rose to €14,328. The total debt grew from €68.9 billion to €77.65 billion. We could have built 300 kilometres of highway or 18 large hospitals with those nearly nine billion euros," he calculated. Kiss emphasised that there is another way to consolidate finances — one that the minister didn't even attempt. "It's the path of cutting state expenditures and creating incentives for economic growth. You can't ask people for solidarity while raising your own salaries and buying luxury jets. Every day of Kamenicky-style consolidation is another threat to the country's future," he added. mf/df