🧵 1. Slovak parliament approves tax hikes on tobacco and sugary drinks, set to take effect in January next year, aimed at reducing budget deficit. #business
🧵 1. Slovak parliament approves tax hikes on tobacco and sugary drinks, set to take effect in January next year, aimed at reducing budget deficit. #business
🧵 2. Tax on sweetened beverages to bring in €85m in 2025 and €117m in 2026, while e-cigarettes and tobacco tax expected to generate €15m in 2025, rising to €126m in 2026.
🧵 3. Fitch predicts Slovak budget deficit to hit 5.7% of GDP this year, up from 4.9% in 2023, but forecasts a drop to 5.2% in 2025.
🧵 4. Slovak Prime Minister aims to cut deficit to less than 3% of GDP by 2025 through tax hikes and spending cuts, expecting higher state revenues.
🧵 5. Slovakia joins countries like France and Denmark in implementing sugar taxes, with critics questioning the effectiveness of singling out soft drinks for levy.
🧵 Read more at: https://www.euronews.com/business/2024/09/24/sour-taste-for-sweet-eaters-and-smokers-as-slovak-price-hikes-approved