BRATISLAVA, February 7, (WEBNOVINY) — The strongest opposition party SMER-SD conditions its support to a reform of financial rules on its participation in their creation from the start of the process. Former state secretary of the Finance Ministry and SMER-SD deputy chairman Peter Kazimir told a news conference on Monday that they perceive this topic as useful and necessary to keep credibility of Slovakia. “If there is a serious interest in our support then we insist on our participation in the process from the beginning of creation of these rules,” said Kazimir. According to him the importance of toughening fiscal rules at the national level increases also in association with the development on the EU ground, where efforts to toughen conditions of the Stability and Growth Pact are failing.
Finance Minister Ivan Miklos announced in January that his ministry would try to push forward a legal cap on public debt to be enacted through a constitutional law. According to him, the government wants to adopt tougher institutional and legislative rules against growing indebtedness and will also hold talks with the opposition in order to get its support. They will propose in a draft constitutional bill a certain level, certainly lower than 60 percent of GDP, which should under no circumstances be overstepped. A fiscal council shoudl be established, too. Its role should be overseeing transparency and effectiveness of using public sources.
SITA