Spectator on facebook

Spectator on facebook

ECONOMIC BRIEFS

Slovakia's foreign trade gap down 53% year-on-year

The deficit of Slovakia's foreign trade balance was 2.584 billion Sk ($64.6 million) in January, down 53% year-on-year from 5.540 billion Sk ($132 million) in January 1998. Preliminary data provided by Finance Minister Brigita Schmögnerová at a press conference on February 22 indicate that imports declined 4% while exports swelled 7% in January 1999 when compared with January 1998.

Schmögnerová ascribed this improvement to the economic measures taken by the cabinet. She cited a 956.9 million Sk ($23.9 million) drop in car imports in January from 1.818 billion Sk a year earlier, and attributed the decline to a revision of the income tax law that narrowed a tax loophole allowing people to write off the purchase of a new car. She admitted that the decrease in car imports could also have been caused by car importers' pre-stocking at the end of 1998.

Schmögnerova said the January results were a significant improvement over December 1998 - imports decreased 28% month-on-month while exports fell only 17%. This means that the January foreign trade gap accounted only for 30% of the December deficit.

Top stories

12 places where you can see the works of one of the best medieval wood carvers Photo

The works of the renowned Master Paul are not limited just to Levoča.

St Geirge Curch in Spišská Sobota

Heatwaves to continue in Slovakia over the following days

More than 40 people collapsed due to hot weather on Thursday.

Jourová: Fico not fully informed on all EC’s activities on double standards

European Commission President Jean-Claude Juncker will meet with Fico to discuss double quality standards of foods on July 27 in Brussels.

European Commissioner for Justice, Consumers and Gender Equality Věra Jourová

Foreigners: Events in Bratislava Video

Tips for performances and other events in the capital between July 21 and July 30, including concerts, parties, festivals, classical music, inline skating, exhibitions and more.