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Government spending in Slovakia plays a pivotal role in shaping the nation's economy and societal well-being. As a central component of fiscal policy, government expenditure encompasses a wide range of activities aimed at providing public goods, services, and support to citizens. Understanding the dynamics of government spending is essential for comprehending the functioning of Slovakia's economy and its impact on various sectors and stakeholders. [1]
In Slovakia, government allocates resources across diverse sectors, mainly education, healthcare, infrastructure, social welfare, defense, and many more. These expenditures are instrumental in driving economic growth, fostering social development, and improving living standards. Moreover, government spending serves as a mechanism for addressing socio-economic disparities, promoting equity, and enhancing the overall quality of life for citizens.
The significance of government spending in Slovakia's economy extends beyond the immediate provision of public goods and services. It also influences macroeconomic indicators such as GDP growth, employment rates, inflation, and fiscal sustainability. Government expenditure patterns reflect policy priorities, economic conditions, and societal needs, thereby shaping the nation's economic trajectory and social fabric.
Other areas include : environment, culture, justice, foreign affairs and many more. [3]
At the end of January 2024, the state budget reached a deficit of 93.2 million €. Compared to the same period last year, state budget revenues were higher by 114.4 million. EUR (+7.2%). State budget expenditures were also higher in the year-on-year comparison, by 267.1 million. EUR (+17.6%). This meant a year-on-year deterioration of the state budget by 152.7 million. euros (-256.4%). [4]
Government spending in Slovakia was last recorded at 47.9 percent of GDP in 2023 . Government Spending to GDP in Slovakia averaged 45.08 percent of GDP from 1993 until 2023, reaching an all time high of 78.80 percent of GDP in 1993 and a record low of 36.40 percent of GDP in 2007. [5]
The spending review, a customary practice in OECD nations, aims to enhance the achievement of public policy goals. It enables governments to pinpoint opportunities for more efficient use of public funds and identify potential savings required to fulfill national and European fiscal obligations.
This review evaluates the efficiency and effectiveness of expenditures, proposing strategies to maximize the value of public finances. Consequently, it facilitates fiscal savings, enhances public service outcomes, and enables reallocation of funds towards governmental priorities.
Collaborative teams from the Ministry of Finance and relevant sector ministries compile comprehensive reports, outlining improvement measures and action plans for implementation. These reports constitute an integral component of the standard budgetary procedure.
The examination of expenditures serves as a means to bolster the quality of public finances within both the Stability Program and the National Reform Program. [6]
The State Final Account of the Slovak Republic for the respective budgetary year is prepared by the Ministry of Finance of the Slovak Republic in accordance with § 29 of Act No. 523/2004 Coll. on Budgetary Rules of Public Administration and on Amendment and Supplementation of Some Acts as amended by later regulations. In line with the defined content framework, the document includes:
The State Final Account is a document that, in summary, informs about the achieved balance and the debt of public administration in a methodology applied by all EU countries. Furthermore, it includes the cash execution of revenues and expenditures of the state budget and their comparison with the approved budget for the respective year. The Ministry of Finance of the Slovak Republic publishes the State Final Account of the Slovak Republic within 10 days after its approval by the National Council of the Slovak Republic. [7]
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cite web}}
: CS1 maint: multiple names: authors list (
link)
Review waiting, please be patient.
This may take 4 months or more, since drafts are reviewed in no specific order. There are 3,226 pending submissions waiting for review.
Where to get help
How to improve a draft
You can also browse Wikipedia:Featured articles and Wikipedia:Good articles to find examples of Wikipedia's best writing on topics similar to your proposed article. Improving your odds of a speedy review To improve your odds of a faster review, tag your draft with relevant WikiProject tags using the button below. This will let reviewers know a new draft has been submitted in their area of interest. For instance, if you wrote about a female astronomer, you would want to add the Biography, Astronomy, and Women scientists tags. Editor resources
Reviewer tools
|
Government spending in Slovakia plays a pivotal role in shaping the nation's economy and societal well-being. As a central component of fiscal policy, government expenditure encompasses a wide range of activities aimed at providing public goods, services, and support to citizens. Understanding the dynamics of government spending is essential for comprehending the functioning of Slovakia's economy and its impact on various sectors and stakeholders. [1]
In Slovakia, government allocates resources across diverse sectors, mainly education, healthcare, infrastructure, social welfare, defense, and many more. These expenditures are instrumental in driving economic growth, fostering social development, and improving living standards. Moreover, government spending serves as a mechanism for addressing socio-economic disparities, promoting equity, and enhancing the overall quality of life for citizens.
The significance of government spending in Slovakia's economy extends beyond the immediate provision of public goods and services. It also influences macroeconomic indicators such as GDP growth, employment rates, inflation, and fiscal sustainability. Government expenditure patterns reflect policy priorities, economic conditions, and societal needs, thereby shaping the nation's economic trajectory and social fabric.
Other areas include : environment, culture, justice, foreign affairs and many more. [3]
At the end of January 2024, the state budget reached a deficit of 93.2 million €. Compared to the same period last year, state budget revenues were higher by 114.4 million. EUR (+7.2%). State budget expenditures were also higher in the year-on-year comparison, by 267.1 million. EUR (+17.6%). This meant a year-on-year deterioration of the state budget by 152.7 million. euros (-256.4%). [4]
Government spending in Slovakia was last recorded at 47.9 percent of GDP in 2023 . Government Spending to GDP in Slovakia averaged 45.08 percent of GDP from 1993 until 2023, reaching an all time high of 78.80 percent of GDP in 1993 and a record low of 36.40 percent of GDP in 2007. [5]
The spending review, a customary practice in OECD nations, aims to enhance the achievement of public policy goals. It enables governments to pinpoint opportunities for more efficient use of public funds and identify potential savings required to fulfill national and European fiscal obligations.
This review evaluates the efficiency and effectiveness of expenditures, proposing strategies to maximize the value of public finances. Consequently, it facilitates fiscal savings, enhances public service outcomes, and enables reallocation of funds towards governmental priorities.
Collaborative teams from the Ministry of Finance and relevant sector ministries compile comprehensive reports, outlining improvement measures and action plans for implementation. These reports constitute an integral component of the standard budgetary procedure.
The examination of expenditures serves as a means to bolster the quality of public finances within both the Stability Program and the National Reform Program. [6]
The State Final Account of the Slovak Republic for the respective budgetary year is prepared by the Ministry of Finance of the Slovak Republic in accordance with § 29 of Act No. 523/2004 Coll. on Budgetary Rules of Public Administration and on Amendment and Supplementation of Some Acts as amended by later regulations. In line with the defined content framework, the document includes:
The State Final Account is a document that, in summary, informs about the achieved balance and the debt of public administration in a methodology applied by all EU countries. Furthermore, it includes the cash execution of revenues and expenditures of the state budget and their comparison with the approved budget for the respective year. The Ministry of Finance of the Slovak Republic publishes the State Final Account of the Slovak Republic within 10 days after its approval by the National Council of the Slovak Republic. [7]
{{
cite web}}
: CS1 maint: multiple names: authors list (
link)