The Slovak Republic has made notable strides in institutionalizing spending reviews over the past eight years, successfully completing evaluations that now encompass 64 percent of total public spending. This initiative reflects a commitment to enhancing fiscal transparency and accountability in governmental financial practices. However, despite these advancements, the country still faces considerable challenges that need to be addressed to fully realize the benefits of spending reviews.
To elevate the budgetary impact of these reviews, several strategic choices must be undertaken moving forward. Firstly, implementing more targeted spending reviews could ensure that resources are allocated efficiently to critical areas, thereby maximizing their effectiveness. Additionally, conducting a comprehensive analysis of potential fiscal measures will provide deeper insights into which strategies yield the greatest returns on investment.
Moreover, strengthening coordination within the Ministry of Finance, as well as fostering collaboration with various line ministries, is essential. This improved communication will help ensure that spending reviews are not conducted in isolation but are instead integrated into a cohesive fiscal strategy. Finally, better aligning the findings from spending reviews with the budget cycle will facilitate a more dynamic and responsive budgeting process, allowing the government to adapt to changing circumstances and priorities more swiftly. By addressing these areas, the Slovak Republic can enhance the overall impact of its spending reviews and improve public resource management
