Auto insurance to rise 50 per cent in 2003

Compulsory auto insurance is expected to rise 50 per cent next year after 20 per cent in 2002, tracking a recent steep increase in damage claims and the value of insured vehicles.

The increases will come as the cabinet pushes through many other rises in regulated prices for 2003, including energy, rent, water and transport. The government has also promised to increase the lower rate of VAT consumption tax.

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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