New Slovak government eyes tax, spending hikes, slow deficit reduction

FILE PHOTO: Slovakia's newly appointed Prime Minister Robert Fico attends the new cabinet's inauguration, at the Presidential Palace in Bratislava, Slovakia, October 25, 2023. REUTERS/Radovan Stoklasa/File Photo

(Reuters) - Slovakia's new government plans to raise multiple taxes, including on banks, to fund pension and other spending rises and slowly cut the euro zone's highest budget deficit under a programme approved by the cabinet on Monday.

Leftist Robert Fico became prime minister for the fourth time last month after winning an election in which he took aim at critical media, Western partners and liberal policies and pledged to end military support for Ukraine.