EconomyOther Economy

Parliament Okays 2011 Budget, Deficit to Drop to €3.81 billion (3)

Bratislava, December 8 (TASR) - Parliament voted in favour of the state budget for 2011 on Wednesday, with the deficit set to drop from this year's €4.54 billion to €3.81 billion in 2011, TASR learnt on the same day. The overall state revenues will stand at €13.15 billion, while expenditures will reach €16.96 billion in 2011. The bill was backed by 78 of… read more

Miklos: Budget Not Ideal, But Best We Could Agree On

Bratislava, December 7 (TASR) - The state budget for 2011, as drafted by the Finance Ministry, isn't ideal or flawless, admitted Finance Minister Ivan Miklos (SDKU-DS) during a debate on the budget in Parliament on Tuesday. However, it's the best proposal that the Coalition was able to come up with, he added. "Consolidation efforts representing 2.5 percent of the budget… read more

Makuch: Europe Will Survive Times of Financial Troubles

Bratislava, December 7 (TASR) - Under the current fiscal framework in Europe, the continent will survive the ongoing financial maelstrom, singling out the existing EU safety net EFSF (European Financial Stablisation Facility) as a major tool in providing shelter for Eruopean states, Slovakia's central bank (NBS) Governor Jozef Makuch told reporters in Bratislava on Tuesday.… read more

NBS: Economy Will Grow by 4.2 percent This Year

Bratislava, December 7 (TASR) - The Slovak central bank (NBS) said on Tuesday that it has slightly reduced its expectations concerning economic growth in 2010, reducing the figure from the 4.3 percent expected in September to 4.2 percent. The adjustment in the figure was caused by a higher level of imports than expected in the third quarter of 2010. According to… read more

Mihal: British \"Levy Bonus\" Should Convince Slovaks of Its Worth

Brussels, December 6 (TASR) - Having Great Britain introduce a variation of the so-called levy bonus should silence critics in Slovakia who took potshots at the concept, arguing that no country has ever introduced such a measure within its social system yet, Labour, Social Affairs and Family Minister Jozef Mihal told TASR on Monday. Mihal spoke to TASR after he took… read more

2.5-million Investment at Hlinne Industrial Zone to Have 999 kWh Output

Hlinne, December 6 (TASR) - A new photovoltaic solar power plant will be launched into operation these days at the industrial zone in Hlinne (Presov region), built by a certain Zilina-based investor that plans to produce some one million kWh of electrical energy per year there. The investor in question, whose name is as yet undisclosed, rented the land for the power plant… read more

Miskov: Authorities to Be Held Accountable for Incorrect Information

Bratislava, December 6 (TASR) - A so-called "provisionally-binding declaration" should be introduced soon to help small and medium-sized entrepreneurs, Economy Minister Juraj Miskov said after meeting representatives of the American Chamber of Commerce on Monday. A survey carried out recently by AmCham among small and medium-sized entrepreneurs indicated the need to make… read more

Women in Slovakia Expect Salaries a Third Lower than Men

Bratislava, December 5 (TASR) - Men in Slovakia expect salaries higher by 31 percent from their employers compared to women, spokesperson of the biggest internet job portal Profesia.sk Lucia Burianova has told TASR. According to the data provided by the portal, men on average expect gross monthly salaries reaching €863, while women only €660 per month. Burianova… read more

MPs Back Tobacco Tax Hike, State to Earn Extra €16 million in 2011

Bratislava, December 1 (TASR) - Parliament at its session on Wednesday voted in favour of an increase in excise-tax on tobacco products, with the move expected to bring an extra €15.9 million into the state budget next year and another €21.2 million in 2012, TASR learnt later in the day. The Government decided to amend the relevant law partly in order to meet a European… read more

Parliament Rejects Beer Tax Hike as Four KDH MPs Abstain From Vote

Bratislava, December 1 (TASR) - Beer prices won't go up after all because Parliament on Wednesday voted down Finance Minister Ivan Miklos's proposal to raise excise-tax on this type of beverage. The move failed to garner support among some Christian Demcorat (KDH) MPs, with four of them abstaining from the vote. Under the amendment, the excise-tax on beer was to… read more

Parliament Okays 80-percent Tax on Surplus Emission Quotas

Bratislava, December 1 (TASR) - Surplus emission quotas that some companies received in allegedly excessive amounts under the tenure of the previous government will be subject to a newly-introduced 80-percent tax in 2011 and 2012 after Parliament voted in favour of a respective proposal on Wednesday. The move was backed by the entire Coalition, while most MPs representing… read more

Budget Deficit Surpassed €3.5 billion in November

Bratislava, December 1 (TASR) - The state budget deficit rose by €138 million on monthly terms to reach €3.511 billion in November, the Finance Ministry announced on Wednesday. The deficit was more than double the figure recorded to November 2009, which stood at €1.576 billion. A total deficit of €3.746 billion was originally projected for the whole of… read more

Profit of Slovakia\'s Banks Rose by 47% Between January-October

Bratislava, November 30 (TASR) - The net profit of the banking sector in Slovakia in January-October rose to €430.25 million, which represents an almost 47-percent increase year-on-year, the central bank (NBS) reported on Tuesday. The net profit from interests over the first three quarters of 2010 rose by €77.5 million to €1.4 billion, with the non-interest profits… read more

Parliament: Public Deficit to Reach 7.84 percent of GDP in 2010

Bratislava, November 30 (TASR) - The public administration deficit will reach 7.84 percent of GDP in 2010, according to a revision of the state budget approved by Parliament on Tuesday. The Finance Ministry, which drew up the revised budget, explains this by saying that parameters of the previous budget (passed by the former Government) and the economic reality differ… read more

Parliament Approves VAT Rate Increase to 20 percent

Bratislava, November 30 (TASR) - The basic VAT rate will be temporarily increased from 19 percent to 20 percent as of January 1, while the 6-percent VAT rate on foods at yard sales will be abolished, the Parliament decided on Tuesday. The VAT rate increase is part of Government's package aimed at a consolidation of the public finances, which should reach a deficit of… read more