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.
12. May 2003 at 0:00 | From press reports of TASR and SITA