EconomyOther Economy

Smer Dismisses Kommersant Item on Fico\'s Gazprom s.r.o. Involvement

Bratislava, August 17 (TASR) - The main opposition party Smer-SD categorically rejects a Russian business daily Kommersant report that Smer head and former premier Robert Fico has financed the company Priemyselny park Partizanske, which is one of the alleged founders of a firm called Gazprom, s.r.o., TASR was told by Smer-SD spokesperson Silvia Glendova on Tuesday. "The… read more

Budget Expenditures Projected to Be Cut by €1.447 billion in 2011

Bratislava, August 17 (TASR) - The expenditure side of Slovakia's state budget for 2011 should be lower by €1.447 billion compared to this year, according to proposals concerning the individual budget chapters as released by the Finance Ministry on Tuesday. While a total of €16.277 billion can be spent by ministries and public administration bodies this year, the… read more

INEKO: State Firms Added Considerably to 2009 Deficit

Bratislava, August 17 (TASR) - State-run railways, medical facilities and the public-service media put a heavy burden on public finances, having increased the 2009 deficit by 1.1 percent of GDP, compared to 0.7 percent in 2008 and 0.6 percent in 2007, according to data in an analysis released by the INEKO think-tank on Tuesday. "The biggest burden on the state is represented… read more

Finance Minister Installs New Chief of Tax Authority

Bratislava, August 16 (TASR) - Finance Minister Ivan Miklos on Monday appointed Miroslav Mikulcik as director-general of Slovakia's Tax Directorate after the incumbent Igor Sulaj named by the previous government was dismissed on July 13. Zlatica Ondruskova and Vasil Panko have headed up the authority in the interim. On the same day, Miklos appointed Maria Machova… read more

Figel: R4 Express Road Construction to Be Launched By End of August

Kosice, August 16 (TASR) - Construction work on an R4 express road connecting Kosice to the village of Milhost, located south of the city and near the border with Hungary, will be launched by the end of August, Transport, Posts and Telecommunications Minister Jan Figel said on Monday. According to Figel, August 27 is now the date that's being considered as the beginning… read more

Mihal Plans to Make Everyone Subject to Retirement Insurance Payments

Bratislava, August 16 (TASR) - Jozef Mihal, Minister of Labour, Social Affairs and the Family, has announced plans to put everyone earning their income from an employer or as self-employed under the obligation to pay pension insurance. Speaking to journalists on Monday, Mihal said he finds the current system of social contributions or payroll tax unfair in that it contains… read more

Miklos: Abolition of Unjustified Tax Exemptions to Save €440 mn in 2011

Bratislava, August 16 (TASR) - The ministers of finance (Ivan Miklos/SDKU-DS), labour (Jozef Mihal/SaS) and health (Ivan Uhliarik/KDH) have jointly prepared changes in the tax and deduction system that would do away with unsubstantiated exemptions and deformations and would bring more money into state coffers, Miklos announced at a press conference on Monday. According… read more

Miklos: Government to Set Aside €11 million After Latest Floods

Bratislava, August 16 (TASR) - Finance Minister Ivan Miklos (SDKU-DS) announced on Monday that he will submit a document at the Government session on Wednesday that would set aside €11 million for local authorities to tackle the aftermath of the floods that hit the country at the weekend. At the same time, ministers are working on further extraordinary measures aimed… read more

EU-harmonised Inflation Increased to 1 percent Y-o-Y in July

Bratislava, August 16 (TASR) - The rate of growth in the prices of goods and services in Slovakia measured by EU methodology went up from 0.7 percent year-on-year in June to 1 percent in July, the fastest pace since the summer of 2009, Slovakia's Statistics Office announced on Monday. Meanwhile, prices rose by 0.1 percent month-on-month in July. Average inflation… read more

Car Industry Recorded Major Annual Rise in Job Offers in 1Q10

Bratislava, August 14 (TASR) - The number of job offers rose by 3 percent in the first quarter of 2010 year-on-year, spokesperson for Profesia company Lucia Burianova told TASR on Saturday. "The most significant annual rise in job offers was seen in the automotive industry, where the number of offers soared by 42 percent. A rise of at least 30 percent was also recorded… read more

Analysts: Prices of Fuel and Foodstuffs to Go Up in Next Few Months

Bratislava, August 13 (TASR) - Analysts expect the prices of foodstuffs, fuel and energy to continue to rise year-on-year in the next few months. "Conversely, the growth in prices of market services and marketable products should still be close to zero due to low domestic demand," said UniCredit Bank Lubomir Korsnak. According to the Statistics Office, growth in the prices… read more

Defence Ministry Points to Exorbitant Salaries of Top Ministry Officials

Bratislava, August 13 (TASR) - New Defence Minister Lubomir Galko has had the salaries of some of his ministry's top officials looked into and has learnt that five of them received so-called "personal salaries" that equalled that of former minister Jaroslav Baska or even exceeded it, Galko's spokesman Richard Sumeghy told TASR on Friday. "Apparently, this was one of the… read more

Gov\'t: Regional Development to Come Under Remit of Transport Ministry

Bratislava, August 13 (TASR) - The powers of the Transport Ministry will be broadened to cover the co-ordination of regional development policies, tourism and the distribution of eurofunds, according to a Government decision on Friday. At the same time, the name of the ministry will be changed to the Transport, Regional Development and Tourism Ministry as of November… read more

Analysts Comment on Premier\'s Austerity Plans for State Offices

Bratislava, August 13 (TASR) - Analysts approached by TASR have commended Prime Minister Iveta Radicova for her plans to slash state spending by 10 percent but are less than convinced about their feasibility. According to Rastislav Toth, the planned reductions in salaries for lawmakers and especially ministers should be offset in some way. "It remains to be seen whether… read more

Analysts: Foreign Demand Behind Better Than Expected Growth in 2Q10

Bratislava, August 13 (TASR) - Slovakia's economy expanded faster than analysts expected in the second quarter of 2010, rising by 4.6 percent according to a preliminary estimate released by the Statistics Office on Friday, versus the average analyst prediction of 4 percent. The analysts see foreign demand as the main reason behind the robust growth. "Slovakia's… read more