EconomyOther Economy

Ministers to Redistribute €15 million in State Aid

Bratislava, June 8 (TASR) - The Government is set to hold the last regular meeting of its term in office on Wednesday, when, among other things, it will take decisions on how to distribute nearly €15 million in state investment aid between four applicants recommended by the Economy Ministry. Semecs hopes to receive €4.69 million to expand its electronic circuit-board… read more

Energy Intensity of Slovak Economy 1.9-times Higher Than EU Average

Bratislava, June 8 (TASR) - The energy intensity of the Slovak economy is 1.9-times higher than the average for EU countries, said Slovak Technical University (STU) vice-chancellor Frantisek Janicek at the 7th Slovak Energy Congress EN.KO in Bratislava on Tuesday. "The current situation is unsustainable, because high energy demand prevails. At the same time, Slovakia… read more

New D1 Highway Section Opened Between Presov and Svinia

Presov, June 7 (TASR) - A new section of the D1 highway between Presov and Svinia was opened on Monday in Presov, with €96 million required to build a 7.5-kilometre section provided by the European Investment Bank and the state budget. The ceremonious opening was attended by Parliamentary Chairman Pavol Paska, Premier Robert Fico, Transport Minister Lubomir Vazny and… read more

Four Chinese Construction Giants Want to Invest in Slovakia

Bratislava, June 7 (TASR) - Four major investors from China are interested in placing their investments in Slovakia, Chinese Ambassador to Slovakia Chen Jianfu confirmed for TASR. The four companies, all of which in the construction industry, include Beijing Urban Construction, China Road and Bridge Corporation, Shanghai Construction Group, and China Railway Group.… read more

Tomanova Allocates €672,780 for 1,105 People Hit by Floods

Bratislava, June 7 (TASR) - According to information published by the Labour Ministry on Monday, so far 1,105 people affected by the floods in May and June will receive a total of €672,780 from Labour Minister Viera Tomanova's humanitarian fund. The money will be distributed with the help of 18 labour, social affairs and the family centres (UPSVaR) and 92 local authority… read more

PSA Peugeot-Citroen Back to Normal After Flood-linked Restrictions

Trnava, June 7 (TASR) - Car-maker PSA Peugeot-Citroen in Trnava said on Monday that it has resumed normal operations following restrictions forced on it late last week by a halt in the delivery of components. Supplies were disrupted due to the flooding of the industrial park in Nitra region that houses the supplier. The flood was caused by the overflowing Zitava River.… read more

Petrovic: Slovakia Has Managed to Cut Energy Demand

Bratislava, June 6 (TASR) - A few years ago, Slovakia had very high energy demand in comparison to EU-member states, but the ratio has improved, general director of the Economy Ministry's energy section Jan Petrovic told TASR on Sunday. "Over the past few years it has been possible to lower energy demand, even if it is currently still quite high, which is due to the structure… read more

Labour Ministry: Flood-stricken Families to Get €800 from Crisis Fund

Bratislava, June 5 (TASR) - Families affected by the recent floods should obtain a financial help amounting to €800 per family from the crisis fund of the Labour, Social Affairs and the Family Ministry, the ministry's head Viera Tomanova said after an extraordinary government session on Saturday. "(The financial help) is meant for those families, which have to secure… read more

Minister Pociatek Rejects Fears Over Aid Widening Public Finances Deficit

Bratislava, June 4 (TASR) - Finance Minister Jan Pociatek has rejected fears that the €25 million earmarked by Government earlier on Friday as an aid for the people in flood-affected areas will widen an already high public-finances deficit. "The situation is serious and we were forced to find all the available reserves, which may be tapped for this purpose," said Pociatek… read more

Analysts: Revival in Slovakia\'s Economy Caused by Foreign Demand

Bratislava, June 4 (TASR) - The GDP structure of the first three months of 2010, published by the Statistics Office on Friday, indicates that the revival in Slovakia's economy has been caused mainly by foreign demand, with domestic demand still lagging behind. "Slovakia's growth is still dependent upon the revival of the global economy in a significant way," ING Bank… read more

Radicova: Smer Taking \'After Us, the Deluge\' Approach to Public Finances

Bratislava, June 4 (TASR) – The governing Smer-SD party has taken an "after us, the deluge" approach, in particular when it comes to public finances and the state budget, opposition SDKU-DS election leader Iveta Radicova told journalists on Friday. "Nobody knows what condition our public finance are in. None of us knows what the real tax incomes are. We don't know what… read more

Slovaks Will Work for State Until June 7

Bratislava, June 4 (TASR) - Slovaks will work longer for the state this year than they did in 2009, as the Tax Freedom Day has been postponed from June 3 to June 7, F.A. Hayek Foundation director Matus Posvanc said at a press conference in Bratislava on Friday. Tax Freedom day is a symbolic point of the year at which employees pay off all their taxes and deductions for… read more

Slovakia\'s Unemployment Rate Up Nearly 45 percent Y-o-Y in 1Q10

Bratislava, June 4 (TASR) - There were 407,100 unemployed people in Slovakia in the first quarter of this year, 44.9 percent higher than in 2009, the Slovak Stats Office reported on Friday. The figure for the first quarter of 2009 was 126,100 lower than that in 1Q10. The current unemployment rate stands at 15.1 percent, up 4.6 percentage points on the year. The… read more

Slovak Economy Growing Again, Gaining 4.8 percent in 1Q10

Bratislava, June 4 (TASR) - Following last year's period of slumps, Slovakia's economy grew by 4.8 percent year-on-year in the first quarter of 2010, the Slovak Stats Office reported on Friday, revising its preliminary estimate of 4.6 percent. Gross domestic product (GDP) grew by 0.8 percent quarter-on-quarter. Over the first three months this year, the Slovak economy,… read more

Fico: Slovakia Wants to Be Self-sufficient in Energy via Nuclear Power

Jaslovske Bohunice, June 3 (TASR) - If the project for the construction of a new nuclear power plant in Jaslovske Bohunice (Trnava region) is realised, Slovakia will become self-sufficient as far as energy is concerned," said Prime Minister Robert Fico at a meeting with representatives of Slovakia's Nuclear Decommissioning Company (JAVYS) and Nuclear Energy Company of Slovakia… read more