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SOPK: Slovakia Has Too Narrow Production Portfolio
Thursday 22 April 2010 Zoom in | Print page
Bratislava, April 22 (TASR) – In terms of the economy, Slovakia's biggest problem is the narrow production portfolio, predominantly focused on car industry and engineering, according to the Slovak Trade and Industry Chamber (SOPK).
Among other economic issues that need to be addressed in the near future, SOPK lists decreasing foreign demand, the rise in unemployment, the limited internal market, as well as the lack of qualified workers to cope with the actual needs of the market.
"The ongoing global financial and economic crisis, which was caused by overproduction, and which concerns a crisis of values and systems ... largely manifested itself in Slovakia in terms of consumption," said SOPK chairman Peter Mihok. In order to make it out of the crisis, the Slovak economy has to enhance its performance and competitiveness, according to SOPK. This can be achieved only via a more strict budgetary discipline, entailing constant pressure on the expenditures side of the ledger.
Mihok, SOP chairman since its inception in 1993, assumes that public money could be spent effectively if corruption didn't exist, adding that the same applies to the drawing of EU funds. SOPK also joined the chorus of calls for the bureaucratic burden represented by the employment levies in Slovakia to be reduced.
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