Spectator on facebook

Spectator on facebook


Net investment position of Slovakia detriorated significantly in 1998

Slovakia's international investment position worsened significantly last year to hit minus 148.7 billion Slovak crowns ($3.42 billion) on December 31, 1998, according to preliminary data from the National Bank of Slovakia. The poor result reflected a 41% growth in foreign loans taken by Slovakia in 1998.

The indicator 'net international investment position' is defined as the difference between the direct, portfolio and other types of investment flowing into a country and the country's total investments abroad. Compared with 1997, Slovakia's 1998 net international investment position worsened by 109.2 billion crowns.

The volume of assets covering direct and portfolio investments abroad and other credit-type investments of Slovak companies abroad grew only slightly at 2% year-on-year in 1998 to 376 billion crowns.

On the other hand, liabilities (including direct, portfolio and other credit-type investments of foreign corporate entities in Slovakia) totalled 524.9 billion crowns at the end of the year, up 116.6 billion crowns (28%) on 1997. Credit investments reported the highest (30%) growth to 414.4 billion crowns. Under credit investments, foreign loans, swelling 259.4 billion crowns (41%), were principally responsible for the overall negative figure.

Slovakia posted a negative net international investment position for the first time in 1997, when it was minus 32.357 billion crowns. In 1996, Slovakia's net investment position was positive at 23.5 billion crowns, while in 1995 this figure was plus 84.6 billion crowns.

Top stories

Shortage of vegetables in Europe’s supermarkets is a hoax

An overview of hoaxes that have appeared in the past few weeks

Household consumption improved.

Slow down, fashion

Most people are unaware that buying too many clothes too harms the environment.

In shallow waters, experts are expendable

Mihál says that it is Sulík, the man whom his political opponents mocked for having a calculator for a brain, who “is pulling the party out of liberal waters and towards somewhere completely different”.

Richard Sulík is a man of slang.

Poll: Smer followed by SaS, KDH also in parliament

Had the general election taken place in mid-February, the opposition Freedom and Solidarity (SaS) would place second, and the now extra-parliamentary KDH would get nine seats.

Alojz Hlina took over at the helm of KDH