BUSINESS BRIEFS

Firms expect pay rises after EU entry

SLOVAK firms say they expect to have to increase pay levels after Slovakia's entry to the European Union next May, according to a report in the daily SME.

"If we want living standards to be comparable with other countries of the union, it will only be possible through increased wages. On the other hand, there must be an equivalent growth in efficiency and productivity," says Slovnaft general director Vratko Kaššovic.

Many firms say that the rises are necessary to avoid a brain drain to countries with better conditions when Slovaks become eligible to work in EU countries.

Get daily Slovak news directly to your inbox

Top stories

News digest: Lockdown not out of the question, PM Matovič says

The overview of news from Wednesday, October 21, 2020.

PM Igor Matovič says lockdown is still in play.

A curfew for those who refuse testing? Lawyers and president have doubts

The government risks the Constitutional Court canceling the nationwide testing.

Illustrative stock photo

The cabinet approves plan for permanent kurzarbeit

The new fund is expected to be introduced from 2022.

Labour Minister Milan Krajniak