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Slovakia to lose a portion of EU Funds

Slovakia may lose a portion of the whole sum of EU funds allocated and approved for the 2004-6 period, but the lost sum won't be dramatic, Construction and Regional Development Minister Marián Janušek said on August 16.

The whole allocation represents more than €1.7 billion, while "the loss could be 0.3 percent in the best-case scenario and 1.2 percent in the worst, which means up to no more than Sk684 million," according to Janušek.

The shortfalls, the result of delays in drawing the funds, can be traced to the education, labour and regional development ministries, as of June 30, 2007.

Janušek acknowledges the results of the current evaluation report on EU funds drawing, saying that there are certain delays, especially concerning resources approved for Slovakia from the European Social Fund. He said the current delays are being gradually reduced, however. TASR

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

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