Archive of articles - December 1998, page 2

Slovakia has 5,393,500 inhabitants

Slovak gas distributor SPP and Gaz de France pledge to cooperate

Slovakia off EU entry roster until 2000

At the December 11-12 summit of the Council of Europe in Vienna, the premiers of the 15 member countries decided to keep Slovakia out of the vanguard of countries negotiating European Union accession. Slovakia, they said, would have to wait until the country was reassessed by the European Commission in December 1999."We have been asleep for four years," said Premier Mikuláš Dzurinda at a press conference after the Vienna summit, referring to the term in office of the former cabinet of Vladimír Mečiar. Mečiar was harshly criticised by the EU for backsliding on democracy, and during his reign, Slovakia was dropped from a group of front-runners for EU integration.

Eye On Vienna

A Naughty Monkey

Nine-month GDP in Slovakia up 5.8% y/y

By The Way...

US most important investor in Slovakia this year

Wedded Bliss

Five banks fail to meet capital adequacy targets

Cabinet backs away from big energy hikes

At the last minute, the Slovak cabinet decided to soften a package of economic restrictions and price hikes designed to heal the country's fiscal and current account deficits. Analysts said that cabinet would regret its loss of heart, as the gentler package would simply prolong the time needed for economic recovery.The cabinet of Premier Mikuláš Dzurinda on December 16 voted down a 84-100% increase in electricity prices that had been proposed by Economy Minister Ľudovít Černák. "The government agreed that energy and water prices will go up as of January 1," said Ivan Mikloš, Deputy Premier for Economy. Mikloš said that the average increase in monthly costs for households would not exceed 110-130 Sk ($3-3.50).

Investor interest still exists despite shocks

Although the international community is positive about post-electoral changes in Slovakia, Europe and the world remain cautious about investing here.That was the message of a Slovak-Austrian Chamber of Commerce press conference held in Bratislava on December 14 to discuss new business opportunities following elections.Regina Ovesny-Straka, a member of chamber's presidium and director of Creditanstalt Bratislava, said that the Russian economic crisis and persisting problems in Asia are behind the investor community's careful approach. Because investors suffered considerable losses in these regions, she explained, they are more cautious of emerging markets.

Export efficiency continues to decrease

Power generator SE gets a new board of directors

Smells like teen spirit

Foreign Minister Eduard Kukan eats lunch every day in the ministry cafeteria, grousing good-naturedly about the soup with even his lowest minions. He is a respected professional who has refused to countenance patronage at the minstry, and who has opened the door to young, talented Slovaks on their way up the diplomatic ladder,In style and substance, Kukan is a perfect example of what is different about Slovakia at the end of 1998.Kukan stepped into his job with 25 years of diplomatic experience. But colleagues who had known him throughout his career were amazed by the direct and forceful speech he delivered to ministry employees in November. No longer, Kukan said, would 90% of Slovak diplomatic posts go to friends and family of ministry workers. No longer would people with talent and drive be blocked by older employees, diplomatic fossils who jealously guarded their jobs and their influence.

Letter to the Editor: Two-tier pricing a disgrace for Slovakia

Quotes of the week

What's Happening in Bratislava

Dzurinda revises Mečiar amnesties