Slovak President Peter Pellegrini signs new budget and civil codes

Slovak President Peter Pellegrini has signed two significant legislative updates: an amendment to the budgetary rules of public administration and a new Civil Code.

The budgetary amendment aims to reduce the administrative burden on state entities and local governments. It eases strict rules regarding budget provisionality and allows for certain adjustments to public expenditure limits without requiring direct approval from the government or the Ministry of Finance, provided they do not affect the total limit. The changes also streamline processes for municipal loans and the accounting of revenues from business activities within contributory organizations.

The new Civil Code, developed by the Ministry of Justice, replaces a framework largely rooted in the 1964 era. The updated code is designed to address the complexities of modern social and economic relations. It consists of seven parts covering general legal institutes, introduces a unified three-year statute of limitations, refines regulations for natural and legal persons, and updates property relations between spouses by introducing the concept of 'joint marital property'.