BUSINESS BRIEFS

Slovakia to recover most Russian debt

THE SLOVAK cabinet has approved a proposal to settle this year around two-thirds of the outstanding debt owed Slovakia by the Russian Federation. If approved, Slovakia's claim against Russia will be reduced from $295.7 million (€257 million) to $97.4 million (€85 million).

The proposal calls for the bulk of the funds, $130 million (€113 million), to be used to finance the modernisation of Slovakia's Air Forcce.

An additional $68.3 million (€59 million) is to be delivered as goods and supplies, while $25 million (€22 million) will go twards the Office of Normalisation, Meteorology, and Testing for the launch of the Slovak Cyclotron Centre.

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