Slovakia's public debt at 61% of GDP amid weak growth and political disputes

The National Bank of Slovakia (NBS) forecast that the economy will grow by only 0.5 % this year, with inflation remaining near 4 % and the public‑finance deficit holding at about 4.5 % of GDP through 2026. Public debt is currently 61 % of GDP, well below the EU average of ≈ 83 %, but the bank warned it could rise to 65 % by 2028 if no further consolidation occurs. NBS officials pointed to external risks such as the Middle‑East conflict, high energy prices and weaker foreign demand, which together could dampen private consumption and investment.

Prime Minister Robert Fico repeatedly claimed that Slovakia has no problem with its finances, citing the debt level as evidence and dismissing criticism from opposition parties and the media. Finance Minister Ladislav Kamenický echoed this view, emphasizing recent Moody’s rating stability and low unemployment. Opposition figure Štefan Kišš accused the government of “spinning numbers” and highlighted the growing public debt, now at a record 61.4 % of GDP.

The independent fiscal‑responsibility Council warned that an ageing population and high debt increase the risk of a fiscal default, projecting a possible rise in debt to over 100 % of GDP by 2040 if current trends continue. Analysts note that while the current debt level is not an immediate crisis, demographic pressures and limited fiscal space could make future consolidation more challenging.