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EC makes general economic recommendations to Slovakia

SLOVAKIA should make sure that its public finance deficit decreases on a “sustainable basis”, the state run TASR news agency wrote.

According to the updated version of the European Commission’s (EC) general economic directives for EU member states for 2003 – 2005, approved on April 7, Slovakia must be cautious of the budget risks resulting especially from the country’s tax reform, which makes forecasting budget income uncertain to a large extent.

Slovakia must improve its business environment, which is troubled by an unstable legislative framework and low law enforcement, the EC suggested.

The country also has to continue to deal with the problems of the labour market. Slovakia’s unemployment rate of about 17 percent is the second highest in the EU.

The EC also recommended that Slovakia improve the quality of its education system, and support science, research, and innovation to a greater extent.

Compiled by Martina Pisárová from press reports
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.

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