Experts from the National Bank of Slovakia (NBS) have raised alarms about the current state of public finances in Slovakia, asserting that it shares alarming similarities with Greece in the run-up to its financial collapse. They point to a significant deterioration in Slovakia's fiscal position over the last seven years, transitioning from primary surpluses to substantial deficits primarily driven by increasing social spending and salaries for public sector workers. This shift raises serious concerns about the sustainability of Slovakia's financial practices and its ability to manage future fiscal challenges effectively.

Current Finance Minister Ladislav Kamenický has publicly disagreed with the NBS experts, suggesting that their warnings could do more harm than good to the country. He believes that the claims about Slovakia's fiscal health being akin to that of Greece could undermine confidence in the nation’s financial governance. This disagreement highlights a broader debate on the adequacy of Slovakia's fiscal measures and the need for a balanced approach to public spending, especially in light of previous years that were economically favorable before the pandemic.

The insights from NBS economists, particularly from Michal Horváth and Martin Nevický, suggest that Slovakia must urgently address its budgetary challenges to avoid a potential crisis. Their call for a more cautious and well-considered approach to fiscal policy indicates a pressing need for reforms to enhance fiscal responsibility and ensure that public finances remain sustainable in the long term. The ongoing discussions are likely to shape the future policy landscape as Slovakia navigates through these fiscal dilemmas.