EconomyOther Economy

New Broom Sweeps Clean at National Property Fund

Bratislava, July 28 (TASR) - Government on Wednesday completely changed the top management of the National Property Fund (FNM), effective immediately. The new head of the FNM executive board will be Anna Bubenikova, and the Cabinet also named four other members of the board - Pavol Faktor, Jozef Petrasko, Daniel Vegh and Dionyz Stehlik. The executive committee… read more

NBS to Join Eurozone Survey of Households

Bratislava, July 28 (TASR) - Slovakia's central bank (NBS) said on Wednesday that it would join a joint Household Finance and Consumption Survey (HFCS) organised by certain central banks in the eurozone in order to help provide the European Central Bank (ECB) and themselves with data comparable with that in other eurozone countries. "The HFCS in Slovakia is aimed at… read more

Trust in Slovak Industry in July at Highest Level Since 2007

Bratislava, July 28 (TASR) - Trust in the Slovak economy grew in July 2010, with the Index of Economic Sentiment (IES) rising by 1.3 percentage points month-on-month and by 22.4 percentage points year-on-year to 92.5 points. It is still 5.9 points below the long-term average, however, the Statistics Office (SU) reported on Wednesday. According to SU, the increase was… read more

Transport Ministry to Get New Powers as of November

Bratislava, July 27 (TASR) - The Transport Ministry is to gain extended powers within a few months, particularly in the fields of regional development, tourism and co-ordination of the use of European funds. In line with these changes, the ministry will be re-named the Transport, Regional Development and Tourism Ministry as of November 1, 2010. "This step is substantiated… read more

Economy Minister Miskov to Rework His Section of Government Manifesto

Bratislava, July 27 (TASR) - Prime Minister (SDKU-DS) Iveta Radicova asked Economy and Construction Minister Juraj Miskov (Freedom and Solidarity/SaS) late on Monday to be more specific in his goals for the economy sector as stated in the Government Manifesto. Miskov was told to include in his Manifesto section among other things a pledge not to privatise strategic companies,… read more

Miskov Sets Mind to Improving Business Environment

Bratislava, July 27 (TASR) - Economy and Construction Minister Juraj Miskov on Tuesday announced plans to bring about a dramatic improvement in Slovakia's business environment. "It would be great if we could turn the country into the Singapore of Central and Eastern Europe. I wish that entrepreneurs had at least half as favourable conditions for doing business as in Singapore,… read more

Miskov to Propose Stimuli Packages for Two Investors to Government

Bratislava, July 26 (TASR) - Economy and Construction Minister Juraj Miskov plans to submit to his ministerial colleagues a proposal to provide stimuli for two foreign investors on Wednesday (July 28). "Namely, it's the compressor-producing Brazil-based company called the Embraco Slovakia, which stands ready to create 300 jobs in Spisska Nova Ves (Kosice region) and the… read more

Simon: My Predecessors to Blame for Suit about Tokaj Wine Brand

Bratislava, July 26 (TASR) - Hungary has filed a suit against the European Commission (EC) for marking part of Slovakia with the geographical designation 'Wine Region Tokaj' in the EU wine registry E-Bacchus, Agriculture, Environment and Regional Development Minister Zsolt Simon told a press conference on Monday. "It's a result of the unqualified and unprofessional approach… read more

Makuch Expects Banks in Slovakia to Have Done Well in EU Stress Tests

Bratislava, July 26 (TASR) - Slovakia's central bank (NBS) governor Jozef Makuch said on Monday that he expects the subsidiaries of the European banks operating in the country to have passed the stress tests conducted by European Union late last week that have boosted share values in Europe's largest banks. "The parent banks have fared very well in the stress tests. We… read more

Simon: Nobody Wants to Advise EnvMin on Sale of Emission Quotas

Bratislava, July 25 (TASR) - The tender for consulting services for the sale of Slovakia's remaining CO2 emission quotas, which was announced by former Environment Minister Jozef Medved (Smer-SD nominee) five days after the recent general election, was wound up without finding a winner, Agriculture, Environment and Regional Development Minister Zsolt Simon has told TASR. … read more

Reversion to National Currency Would Adversely Affect Slovak Economy

Bratislava, July 24 (TASR) - The potential return to the original Slovak currency - koruna - would adversely affect Slovakia's economy, with reversion to the 2008 changeover rate being impossible. "Following the return to national currencies, the confidence in individual currencies would be extremely low - particularly with small economies such as the one of Slovakia,"… read more

Heads of Top Managers Roll at Slovak Post Office and ZSSK Cargo

Bratislava, July 23 (TASR) - Transport, Posts and Telecommunications Minister Jan Figel (Christian Democrats/KDH) earlier this week dismissed CEO of the Slovak Post Office Libor Chrast and member of the management board of the National Highway Company (NDS) Juraj Cermak, TASR has been told by Figel's spokesman Martin Krajcovic. Figel also recalled members of the management… read more

Tax Hikes Possible Only with Cuts or Cancellation of Some Deductions

Bratislava, July 22 (TASR) - According to the new Government, whether or not taxes will be raised depends on changes in the deduction system. "We'll maintain the flat income tax and won't raise it (from its current 19 percent). Any prospective raise in income tax can take place only with the cancellation or decreasing of some deductions," according to the working draft… read more

Cabinet Aims to Cut Paperwork Load by 25 percent by 2012

Bratislava, July 22 (TASR) - Better conditions for entrepreneurs, a 25-percent reduction in red tape for businesses by 2012 and informatisation of the state and public administration are the chief priorities of the Economy Ministry, according to a working version of the Government Manifesto that TASR has obtained. The points are included in the ministry's priorities for… read more

Local Council Tax Revenues Shrank by One-fifth Y-o-Y in 1Q10

Bratislava, July 22 (TASR) - Higher unemployment rates throughout all regions of Slovakia have translated into lower tax revenues, with local councils collecting nearly 20 percent less year-on-year in taxes in the first quarter of 2010, according to a study published by the Slovak Credit Bureau (SCB) on Thursday. The most dramatic y-o-y slumps in tax revenues were seen… read more