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Powers and Competences of the MF SR

The competencies of the Ministry of Finance of the Slovak Republic are laid down in Act No. 575/2001 Coll. on Organisation of Government Activities and Organisation of Central Government, as amended.

The Slovak Republic has the following ministries, each headed by a Cabinet minister:

  1. Ministry of Economy of the Slovak Republic,
  2. Ministry of Finance of the Slovak Republic;
  3. Ministry of Transport and Construction of the Slovak Republic,
  4. Ministry of Agriculture and Rural Development of the Slovak Republic,
  5. Ministry of the Interior of the Slovak Republic,
  6. Ministry of Defence of the Slovak Republic,
  7. Ministry of Justice of the Slovak Republic,
  8. Ministry of Foreign Affairs of the Slovak Republic,
  9. Ministry of Labour, Social Affairs and Family of the Slovak Republic
  10. Ministry of the Environment of the Slovak Republic,
  11. Ministry of Education, Science, Research and Sport of the Slovak Republic,
  12. Ministry of Culture of the Slovak Republic,
  13. Ministry of Health of the Slovak Republic.

The Ministry of Finance of the Slovak Republic is a central body of state administration responsible for the areas of finance, taxes and fees, customs, financial control, internal audit and government audit. The Ministry of Finance of the Slovak Republic is also a central body of state administration responsible for the informatisation of society, coordination of state aid in the area of pricing and price control, except for the pricing and price control of the goods regulated by separate laws.

The Ministry:
a) develops and implements policies in the areas referred to in paragraph 1, including the budgeting of the aggregate general government deficit, develops and implements the central government budget and financial market policy, including consumer protection in the provision of financial services, and develops and implements a policy for the management of assets owned by public administration, public-service sector and non-business sphere; 
b) performs the functions of state administration in the management of state financial assets and liabilities of the Slovak Republic, mortgage banking and building societies, except for the government premium for building saving schemes, foreign exchange management and foreign exchange control, the single accounting and reporting system, and gambling; 
c) performance of state supervision over the implementation of social insurance, over compliance with the conditions for granting government premium to building saving schemes,  over compliance with the conditions for granting government contribution to mortgage loans, over the operations of the Export-Import Bank of the Slovak Republic and over the financial management of the Social Insurance Agency.

The Ministry is headed by Minister, who is responsible for its performance. 

In his absence, the Minister’s rights and obligations are exercised by the State Secretary. The Minister may authorise the State Secretary also in other cases to act on behalf of the Minister within the scope of his rights and obligations. When deputising for the Minister at Cabinet meetings, the Secretary of State has an advisory vote.

The State Secretary is appointed and recalled by the Cabinet based on a proposal submitted by the relevant Minister. In justified cases, particularly where a ministry covers more than one sector, the Cabinet may decide to appoint two State Secretaries; the Minister shall determine the areas and the order in which the two State Secretaries shall deputise for him.