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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.

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