THE EVOLUTION OF THE REGIONAL SELF-GOVERNMENT DEBT IN THE SLOVAK REPUBLIC

Life with the debt is becoming a trend, which is a natural part of the management of all economic subjects. Development trends of public debt in Eurozone after 2009 indicate that the debt crisis deepens. Even the debt of Slovakia continues to grow; while in 2009 was the public debt at 35,6% of GDP, at the end of 2013 increased to 55,4% of GDP. More than 97 % of the total public debt consists of central government debt; the remaining part consists of the regional and local self-government debts. Although in 2012 the regional and local self-governments have contributed to a reduction in total public debt by 0,1 %, an important part of recovery of public finances is constantly guarding the debt of all levels of public administration. The object of our research is monitoring the evolution of the public debt of Slovakia regard to its decomposition. The aim of this paper is to compare the evolution of the self-government debts on the regional level, quantify their tax revenues and capital expenditures and determine degree of dependence between the evaluated variables. For the evaluation of secondary data in time period between 2006 and 2012 we use the quantitative correlation analysis.