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Šramko: SP deficit not threatening euro adoption

The deficit that Sociálna Poisťovňa (social insurance provider) is running at the moment doesn't threaten the adoption of the euro in Slovakia, Slovak central bank (NBS) governor Ivan Šramko said following the Government session on September 12.

He is not concerned about the prudence of citizens' savings being in the second pension pillar either. From the NBS' perspective, it's important that the current system as established makes the pension system secure. Fluctuations in the yields of savings in the second pillar are natural, according to Šramko, and the weaker efficiency of individual pension management companies (DSSes) in comparison with others has already been dealt with in legislation.

Every change in the second pension pillar will now mean bigger problems for the future, he said. That's why there is no sense in making it voluntary. This system forces the government to economically manage the persistent shortfall and to try to post lower deficits, he says. 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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