Data without pathos: Macroeconomic window X. — headache | Economy | .a week

a good example is mandatory expenses, which, based on the measured inflation for the “last months”, will be increased by a given/similar percentage from a certain moment “until the next months-years”. Usually repeatedly.

With the strong trio holding Slovakia’s public finances “unbridled” (Igor, Eduard, Marcel), it was possible to distribute MORE than the mandatory, pre-agreed, legally anchored framework.

Testing and vaccination was just a small amount compared to this.

Again across the board, to everyone and regardless of practice, to everyone and regardless of region, to everyone regardless of profession, again and again:

+500 euros, +7%, +10%. The former prime minister also brags that “he’s made of something” and added that at least +21%.

Nothing against raising salaries in the public administration and nothing against a large set of benefits and bonuses in the public administration compared to the private sector. Only someone will have to earn the money first and pay it to the state. And the growth of this “earn and withdraw” will slow down from 2023, because inflation will start to decrease.

But mandatory spending is only now starting to rise (from September 2022, January 2023, September 2023).

Greece had a problem with this. No: they did not go bankrupt, because they have EMS protection and could not go bankrupt. They just had to reduce pensions by 1/3 in addition to public administration salaries.

No, we are not there, but we are going that way. Because labor productivity in the public sector will not increase by 21% per year for ALL employees.

Towards the end of the year, we will call 112, we will transport the patient to the emergency department.

Inflation doesn’t hurt, it’s like hypertension. We’re fine. But suddenly it will be hard to breathe and we will collapse.

If you subscribe to the print .week for the next year, you’ll help us survive and do what we know how to do. Thank you in advance.

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