Opposition Leader Igor Matovic Criticizes Slovak Government's Budget Performance

Matovic Alleges Fiscal Mismanagement Under Fico Government

Bratislava, Slovakia – Opposition leader Igor Matovic, head of the 'Slovakia' party and former Prime Minister, has launched a scathing critique of the current government's fiscal policies. Speaking at a news conference on Saturday, October 25, 2025, dedicated to evaluating the two-year performance of Premier Robert Fico's (Smer-SD) administration, Matovic asserted that three implemented consolidation packages have proven ineffective, leading to a significantly higher state-budget deficit.

Matovic, who previously served as Prime Minister from March 2020 to March 2021 and Finance Minister until December 2022, claimed that the current government's deficit is '75 percent higher' than during periods of major crises under his own administration. He questioned the government's ability to attract foreign investment and highlighted that citizens would 'pay €7 billion more into the budget next year,' contradicting Fico's election pledges.

Slovakia's Growing Budget Deficit

Recent data indicates a worsening of Slovakia's public finances. The total general government deficit for 2024 reached €7.2 billion, representing 5.50% of the Gross Domestic Product (GDP). This figure is a deterioration of more than €250 million compared to earlier estimates and an increase from the €6.5 billion (5.30% of GDP) recorded in 2023. The deficit has consistently remained above the European Union's 3% ceiling, placing Slovakia among the EU member states with the highest public finance deficits.

The Supreme Audit Office (SAO) of the Slovak Republic noted that the public sector deficit worsened for the second consecutive year, rising from 1.7% of GDP in 2022 to 5.2% in 2023, and further to 5.3% in 2024. This trend has raised concerns about the country's long-term fiscal sustainability and has contributed to a downgrade in Slovakia's international credit rating.

Consolidation Efforts Under Scrutiny

The Fico government, which returned to power in October 2023, has introduced multiple fiscal consolidation packages aimed at addressing the strained public finances. The most recent package, described as the 'third in a row,' was approved by the Slovak parliament on September 25, 2025, despite sparking mass protests. This package, totaling approximately €2.7 billion, includes 22 measures, with nearly half focused on reducing state spending.

Measures within these packages have included limiting wage costs across ministries, increasing compulsory health insurance contributions, raising taxes on high earners and gambling operators, and introducing a higher 23% VAT rate for certain foodstuffs. Earlier consolidation efforts, including one adopted on October 3, 2024, also involved tax legislation changes, a hike in VAT, and a new financial transaction tax. However, critics argue that these measures have largely shifted the burden onto citizens and have not yielded the desired improvement in the state's financial health.

Government Responds to Criticism

In response to the broader criticism of the government's performance, Matúš Šutaj Eštok, leader of the Voice-SD party and Interior Minister, defended the current administration. He criticized the previous government, which included Matovic, for its 'amateurism' and 'total disintegration of the state' during its tenure between 2020 and 2023. Šutaj Eštok stated that the current government has settled ideological disputes and is now focused on delivering results for the people and regions.