Spectator on facebook

Spectator on facebook

ECONOMIC BRIEFS

IMF officials examine Slovakia's banking reform plans

The process of recovery of banks and the business sector is one of the highest priorities of the current government's economic policy in the upcoming years, Slovak Finance Minister Brigita Schmögnerová told during her meeting with IMF representatives April 12.

Schmögnerová told the officials that a decision would soon be made about the privatization of Investičná a Rozvojová Banka (Investment and Development Bank - IRB) and the government program for the recovery and privatization of Všeobecná Ůverová Banka (General Credit Bank - VÚB). In both cases, Slovakia counts on involvement of foreign investors, the Minister's spokesman Peter Švec said.

Schmögnerová also mentioned Banka Slovakia as an example of a smaller bank which will be privatized.

The goal of the two-week IMF mission in Slovakia, headed by Robert Feldman, is to elaborate and examine the country's program for financial restructuring of the banking and business sector in Slovakia.

IMF representatives were also interested in austerity measures the government is taking take in order to reduce budgetary risksand simultaneously maintain the central government's budget at 15 billion crowns. Schmögnerová said she was considering lifting of the excise tax on cigarettes, fuels and lubricants, but called a VAT hike unlikely. A new tax on car ownership may also be introduced, she said.

Top stories

General Prosecutor filed a motion for the dissolution of ĽSNS

The Slovak Supreme Court received a motion to dissolve the extreme right ĽSNS party founded and led by Marian Kotleba.

Jaromír Čižnár

Russian spies allegedly recruit also Slovaks

They are using martial art clubs in Germany and dozens more in other EU states, in the Western Balkans, and in North America.

Illustrative stock photo

EC scrutinises state aid for Jaguar Photo

There is a question whether the scrutiny may impact the carmaker’s plans to invest in Slovakia.

The construction site of a brand new plant of Jaguar Land Rover near Nitra.

GLOBSEC forum will host guests from 70 countries

The 12th year of the conference will be attended by the highest number of participants in its history.

Slovak President Andrej Kiska gives the opening speech of The Globsec 2016 security conference.