Labour Office to run out of funds before end of year

The National Labout Office (NÚP) predicts that it will run out of funds to pay unemployment benefits before the end of the year.

NÚP Director Jaroslav Sumny told a news conference on June 30 that the office expects to pay out 1.8 billion crowns in jobless benefits in 1999 (on forecasts of 18% unemployment), leaving the fund a full billion crowns short.

If the NÚP runs out of money, the government is obliged by law to extend it a loan.

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