The new government of Slovakia, headed by Prime Minister Igor Matovič, follows the energy policy of the previous government of Peter Pellegrini, which is aimed at increasing the role of the Slovak Republic as a transit country by increasing the level of interconnection of the Slovak gas transportation system (GTS) with regional gas European markets. Such a policy of Slovakia aims to make the most of its geopolitical position and is characterized by attempts to establish pragmatic relations with all key players at the European gas market, primarily with Russia, which remains the main supplier of natural gas to the countries of Central and Eastern Europe.

Our experts analyzed the “Stability Program of the Slovak Republic for 2020 to 2023” (Program stability Slovenskej republiky na roky 2020 až 2023), which is the key medium-term document in the economic sphere of Slovakia. The document was developed by the Ministry of Finance of the Slovak Republic, approved at the meeting of the government of Slovakia on May 18, 2020 and should be supported by the parliament. The program defines the budget, fiscal and monetary policy of the state in the economic crisis, which is developing in the Slovak Republic against the general background of the global economic recession and the pandemic of the COVID-19 virus. The document also takes into account the economic component of the 4-year action program of the government of Prime Minister Igor Matovič, which was published on April 20, 2020.

In March - April 2020, there were several almost overlapping events that are extremely important for the Russian economy. The fact that they almost coincided slightly blurs their effect and makes it difficult to analyze the causes and probable implications. Many economic entities have not yet realized what awaits them. Many hope that “pseudo-quarantine” will be lifted and the situation will quickly normalize. This is not true. A new, and very harsh reality is beginning for the Russian economy. The budget will have to be cut significantly and the national currency will have to be devalued. Citizens expect a significant drop in welfare, and business awaits reduction.

The economic crisis in Slovakia, which is developing against the backdrop of the recession of the world economy, is significantly complicated by restrictive measures on business activity in the country, which the government of Slovakia has been introducing since March 16, 2020 to counter the spread of the COVID-19 virus. Given that Slovakia was in a crisis period during the regular parliamentary elections held on February 29, 2020, with further formation of the new government on March 18, 2020, implementation of measures to respond to the economic component of the crisis took place only in the second half of April.