A reduction in interest rates of 1.5 percentage points by the National Bank of Slovakia (NBS) at the end of last year will save the government several billion crowns in this year's budget, according to the Finance Ministry.
"In interest on state loans we will pay about Sk2.5 billion (€61 million) less than predicted before the change in interest rate," Jozef Mach from the ministry's press office told the financial daily Hospodárske noviny.
The strong crown has also meant savings, as some dollar and euro loans have been refinanced in loans from Slovak financial institutions.
Compiled by Conrad Toft from press reports.
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.
5. May 2003 at 10:22