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SARIO finds way out of financial trouble

The SARIO state investment agency has been given an additional 21.6 million Slovak crowns ($432,000) from the state budget by the government, bringing its annual budget to 51.1 million crowns and solving a cashflow crisis at the agency.

At the end of May Slovak media released information that the agency was close to bankruptcy after the government failed to transfer due funds. Head of SARIO Alan Sitár said at the time that the organisation was heading for "catastrophe" if the financial crisis were not remedied.

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