State loan guarantees mounting

The state has guaranteed Sk261.7 billion ($5.5 billion) in loans for companies over the last two years, according to Finance Ministry statistics, on which it has had to pay out Sk36.7 billion.

The greatest increase in guarantees has come in the past two years, in conflict with the goals of the European Union entry process.

Construction of energy sector facilities such as nuclear plants has swallowed Sk86.8 billion, or 33 per cent, of the overall sum.

Compiled by Tom Nicholson from press reports.
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.

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