Slovak News Back to the news
Miklos: Healthy Public Finances Are Key for Slovakia's Competitiveness
Tuesday 09 November 2010 Zoom in | Print page
Bratislava, November 9 (TASR) - Healthy public finances are an important factor in Slovakia's future development and the level of its competitiveness, Finance Minister Ivan Miklos said on Tuesday, adding that competitiveness will be the key criterion for the country's growth at a time when the strength of certain other countries will flag.
"With lower global growth it will be possible to assert oneself on the global market. The chances of receiving investments and growing will be even more difficult, however," Miklos said at a Trend Top Management conference organised by economic weekly Trend.
Slovakia should therefore direct its attention especially towards a low deficit, healthy public finances, an improving business environment, more efficient public administration and a knowledge-based society. "Only in this case will we be able to be more competitive," said the minister.
Miklos described future economic developments as a period of deepening debts. "The future will be characterised by the bank crisis transforming into a debt crisis," he said, pointing to countries such as Japan, Greece, Italy, the United States and Great Britain, whose public debts exceed 100 percent of their GDP.
All rights reserved. Any publishing or further dissemination of press releases and photographs from TASR's resources without TASR's prior written approval constitutes a violation of the Copyrights Act.
