Mikloš makes further state subsidy cuts

Finance Minister Ivan Mikloš reduced the proposed state contribution to construction savings accounts in 2003, as well as the state’s subsidy for housing mortgages, in response to the central bank’s November interest rate cut.

Reasoning bank loans would now be cheaper following the 50 basis point cut, Mikloš reduced the ceiling for monthly state constructions savings account contributions from Sk4,000 this year to Sk3,000 ($95 to $73), and dropped the mortgage subsidy from 4.5 per cent of the principal annually to 2.5 per cent.

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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