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Ministries must save to fulfill promises

BY the end of this year the government will take back around Sk4.3 billion from individual ministries in order to fulfill cabinet promises that form part of its program manifesto. The Sk4.3 billion represents a 10 percent cut of total government expenditures, Pravda wrote.

The government will probably use the money for measures such as the extra Christmas pension, while PM Robert Fico also thinks that the saved money can be used to support local bus transportation. The coach companies have complained in the past that they lack some Sk300 million for their operation.

Economists warned, however, that a one-off saving does not necessarily resolve the situation.

“Expenditures for various projects will only be moved on to next year. On the other hand, the extra pension will be introduced and the increased expenditures [from the Christmas pension] will remain each year,” said Juraj Kotian, chief economist with the Slovenská sporiteľňa bank.

Compiled by Martina Jurinová from press reports
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.

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