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HZDS: Public Finance Debt Must Not Go Above 60 percent of GDP
Friday 19 February 2010 Zoom in | Print page
Bratislava, February 19(TASR) - The co-governing LS-HZDS party is in favour of a constitutional amendment stipulating that Slovakia's public-finance debt must not exceed 60 percent of GDP, party vice-chairman Jozef Habanik told a press conference on Friday while presenting the party's manifesto ahead of the general election due in June.
In its manifesto, entitled 'Stable Finances for a Peaceful Life', HZDS aims to focus on the consolidation of public finances in order to ensure that Slovakia's deficit doesn't exceed 3 percent of GDP and thereby meets the EU's respective Maastricht convergence criterion.
"We want the consolidation of public finances to be carried out by means of savings in Government expenditure. In no case do we want this to proceed via tax increases," said Habanik, referring to another item included in the party's manifesto.
The party also aims to stimulate employment by gradually cutting contributions paid by employers and employees alike.
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