EconomyOtherEconomy
Radicova: Slovak Government Not Preparing a Plan B
Bratislava, December 14 (TASR) - Slovak Government is not preparing a Plan B, Prime Minister Iveta Radicova said on Tuesday in response to suggestions made by Parliamentary Chairman Richard Sulik in a newspaper column on Monday that Slovakia should be ready for a collapse of the euro. No currency switchback is anticipated to take place in Slovakia in the near future,… read more
Gasparovic Inks Tax Amendments on Tobacco and Red Diesel
Bratislava, December 14 (TASR) - President Ivan Gasparovic on Tuesday signed two more bills recently approved in Parliament, namely one concerning an increase in excise-tax on tobacco products and another that abolishes tax relief on so-called red diesel (mainly used by farmers) along with the tax exemption for liquefied petroleum gas (LPG), TASR learnt on the same day.… read more
Radicova: Scandals of Former Gov\'t Complicate Fight Against Poverty
Bratislava, December 14 (TASR) - Scandals that emerged at the Labour, Social Affairs and the Family Ministry under the management of former minister Viera Tomanova (Smer-SD) have made it more complicated to acquire financial means for the fight against poverty in Slovakia, said Prime Minister Iveta Radicova on Tuesday. Radicova was speaking at the Concluding Conference… read more
President Signs Bill on VAT Hike Into Law
Bratislava, December 14 (TASR) - The basic VAT rate will be increased from 19 percent to 20 percent as of January 1, while the special 6-percent VAT rate on foods sold directly from farms will be abolished, as President Ivan Gasparovic signed legislation to this effect on Tuesday. The VAT rate increase is part of the government package aimed at consolidating public finances,… read more
Miklos: All Necessary Steps Must Be Taken to Ensure Survival of Euro
Bratislava, December 13 (TASR) - The euro should stay in circulation and every step necessary must be taken towards that aim, Finance Minister Ivan Miklos (SDKU-DS) reacted this way on Monday when asked whether it's possible to revert to the former Slovak currency, the Slovak koruna. Slovakia should remain part of the eurozone. "Of course, one must stand ready for all… read more
November Saw Fastest Rise in Foodstuff Prices in 2 Years at 5.1% y-o-y
Bratislava, December 13 (TASR) - Prices of goods and services rose by 1 percent year-on-year in November, with the rate thus unchanged compared to October 2010, the Statistics Office announced on Monday. The price increase was chiefly due to higher prices of foodstuffs and alcohol-free beverages, which went up by 5.1 percent on the year. The items recorded their fastest… read more
Radicova: No Supranational Mechanism Can Fix Broken Countries
Bratislava, December 12 (TASR) - According to Prime Minister Iveta Radicova, no supranational entity or even permanent anti-crisis mechanism will ever be able to heal the wounded economies of EU-member states without these countries launching their own consolidation mechanisms in their economies and budgets. "The first step, therefore, should be to amend the Stability… read more
Enterpreneurs: Public Expenditures Need More Radical Cuts
Bratislava, December 11 (TASR) - The Association of Slovak Entrepreneurs (ZPS) views the approved state budget for 2011 as a 'transitive' one, designed to bridge two different periods - that of budgetary irresponsibility and that of restoring fiscal discipline in public sector. However, public finance should be cut in a more radical way on the expenditure side of the budget,… read more
Slovakia\'s Foreign Trade Recorded €145-million Surplus in October
Bratislava, December 10 (TASR) - Slovakia's foreign trade surplus reached €145.3 million in October, the Slovak Statistics Office reported on Friday. In the month of September, the foreign trade balance posted a surplus of €39.9 million. In October, exports stood at €4.72 billion, a year-on-year rise of 16.7 percent. Total imports went up by 22.4 percent… read more
URSO: Average Price of Gas for Households to Rise by 4.4% as of January
Bratislava, December 10 (TASR) - The average price of gas for households will rise by 4.4 percent as of January 1, Jozef Holjencik of the Office for Regulation of Network Industries (URSO) said in Bratislava on Friday. URSO has also set the price of gas used for heating for households that is set to increase by 6.12 percent. The gas utility Slovensky Plynarensky Priemysel… read more
Volkswagen Plant Getting Ready for New Car Model Production
Bratislava, December 9 (TASR) - Prime Minister Iveta Radicova on Thursday visited Bratislava's Volkswagen Slovakia plant, a company with a staff of 6,800 belonging to the biggest employers in Slovakia. The company's Board of Directors chairman Andreas Tostmann informed Radicova on the plant's plans, especially those related to the planned construction of Volkswagen's… read more
Parliament Abolishes Unlimited Guarantee of Savings
Bratislava, December 8 (TASR) - The Parliament on Wednesday abolished the scheme of unlimited guarantee of savings on bank deposits for members of the public, NGOs and smaller firms – now setting the limit at €100,000, in keeping with new EU rules. The protection of bank deposits in full was introduced by Robert Fico's (Smer-SD) government in 2008 in response to the… read more
Figel: New Intelligent Traffic System to Be Introduced on Motorways
Bratislava, December 8 (TASR) - A new 'intelligent' traffic system should increase safety on Slovak motorways in the future, Transport Minister Jan Figel (Christian Democrats/KDH) said on Wednesday in the wake of the major crash on the D1 motorway near Bratislava a day earlier involving more than 20 vehicles and claiming one casualty. "The system regulates the maximum… read more
Figel, Mihal and Uhliarik Content with Budgets for Their Ministries
Bratislava, December 8 (TASR) - The ministers of transport (Jan Figel/KDH), health (Ivan Uhliarik/KDH) and labour (Jozef Mihal/SaS) are content with the respective budgets for their ministries that were approved as part of the state budget in Parliament on Wednesday. "I'm happy that we've agreed on the overall budget," said Figel, even though his ministry has been deprived… read more
Analysts: SR Can\'t Afford Another Violation of Eurozone Budget Rules
Bratislava, December 8 (TASR) - Slovakia can't afford to violate the eurozone budgetary rules again, as it may then face a downgrade in the country's rating and a subsequent fall in market trust, several economic analysts told TASR on Wednesday. Slovakia, which after adopting the euro in 2009 saw its debt and deficit levels exceed the so-called Growth and Stability Pact… read more
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