New austerity package inevitable in 2003

Economists are predicting that a new ‘austerity package’ of regulated price rises up to 20 per cent will have to be launched by any government emerging from September elections, and could slow real wage growth to zero in 2003.

The forecasts have been confirmed by Deputy Prime Minister for Economy Ivan Mikloš, as well as the Ano and Smer non-parliamentary parties, which are considered likely to be involved in the next government.

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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