Spectator on facebook

Spectator on facebook

BUSINESS SHORTS

Slovak central bank closes Sk45 billion in red

THE NATIONAL BANK of Slovakia (NBS) reported a Sk45.1 billion (€1.37 billion) loss in 2006. The central bank closed 2005 only Sk663 million (€20 million) in the red.

The appreciation of the Slovak currency and monetary policy were behind the widening of the gap.

The NBS bank board decided that the loss would remain uncovered and would be covered by future profits from the central bank and other resources.

The aggregate loss of the Slovak central bank, excluding the 2006 loss, totals about Sk77 billion (€2.3 billion).

The main mission of the NBS is not to generate a profit, but to supervise the monetary stability and financial market, including banks and pension fund management companies.

Top stories

Slovakia threatened with returning funds for dual education

The system is still not running as it should, and if the country fails to meet goals, it may be asked to pay back the money allocated from EU coffers.

Trams will test renewed tram track in downtown Bratislava on Friday

Originally, the tram track should have been put back in operation on November 15

Top 3 news from Last Week in Slovakia Video

EMA will not relocate to Slovakia - Job ads will have to state actual payrates - Trnava factory to produce electric cars

PSA plant in Tranva.

Job ads should inform about basic salary

One of the proposal’s authors from the Smer coalition voted in May against a similar proposal authored by opposition deputies

The shortage of workforce is a growing problem for entrepreneurs.