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BUSINESS BRIEFS

EC makes economic recommendations

SLOVAKIA must make sure that its public finance deficit decreases on a "sustainable basis", the state-run news agency TASR 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 budget risks resulting from the country's tax reform, which makes forecasting budget income uncertain.

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

The country also has to continue to deal with the problems of its 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 more strongly support science, research, and innovation.

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