Spectator on facebook

Spectator on facebook

IN SHORT

World Bank: Billions spent on bribes in Slovakia

THE WORLD Bank estimates that Slovaks spend tens if not hundreds of billions of crowns every year on under-the-table payments and bribes. According to a report by the bank, companies in the 10 new EU-member states spend five to seven percent of their annual revenues on bribery and extortion payments.

The money goes to secure needed information and lucrative contracts, as well as "security" from organized crime groups.

Firms have no difficulty concealing these illegal payments in their books to make them appear legal - the money is often accounted for as payment for consulting services. Bribes are also hidden as marketing expenses or operating costs, the SME daily reported.

Companies in Slovakia spend a similar proportion of their sales revenues, or 5-7 percent, on legal activities, such as enforcing contracts.

Top stories

EU roaming fees to end on June 15 – in theory

Slovak customers still waiting to find out how mobile operators will implement change.

Archaeologist pieces together early history of what is now western Slovakia Photo

For an archaeologist, the most important thing is his most recent rare discovery, says Július Vavák.

Students visited Svätý Jur as part of their European Wanderer project

How to sell Slovak books to English readers

Slovak literature makes it to the big bookstores of London, but it is unlikely to become a bestseller yet.

On Wednesday, Slovak literature will be presented in one of the biggest bookstores in London. Among the new books translated into English is also the anthology of current Slovak prose selected and translated by Magdalena Mullek and Júlia Sherwood.

General Prosecutor filed a motion for the dissolution of ĽSNS

The Slovak Supreme Court received a motion to dissolve the extreme right ĽSNS party founded and led by Marian Kotleba.

Jaromír Čižnár