Government to halt privatisations

THE NEW government led by Robert Fico will not revive the outgoing government's plan to sell state stakes in strategic energy and railway companies.

In addition to the railway cargo transportation firm ZSSK Cargo Slovakia, the Dzurinda government had started to privatise Slovakia's six biggest heating companies and had laid the groundwork for the sale of three energy distribution firms.

Just these sales were expected to earn around Sk45 billion (€1.19 million) for the state budget, an amount the Fico government would have to find some way to replace.

Analysts have noted, however, that the state budget will not be the only victim of the the halted privatisations.

According to ING Bank's Ján Tóth, foreign investors are going to find their options increasingly limited in Slovakia and the path to investment for the companies most in need will be complicated, Pravda wrote.

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