US EditionPension Spending in Slovakia Grew Faster than the Economy, Warns the Fiscal Council
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Between 2018 and 2025, pension spending in Slovakia grew faster than the economy. It increased from eight to 9.5 percent of gross domestic product, which is one of the largest increases in the EU. This year, this corresponds to higher spending by 2.1 billion euros. Since the pension system's revenues did not grow in relation to GDP, this is an additional burden on the public finance deficit, the Council for Budgetary Responsibility warned on the…
The growth in spending was significantly contributed by new spending by this and previous governments. The second pillar will also reduce the spending of the Social Insurance Company. Pension spending has increased dramatically, and the aging of the population is not the main reason. Much more is contributed by new spending introduced by individual governments - not only the universal thirteenth pension, but also various valorizations and the fa…
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