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EBRD praises Slovakia's tax reform

ACCORDING to the European Bank for Reconstruction and Development (EBRD), the Slovak Republic has undertaken bold tax, labour, and pension reforms and enjoys one of the strongest economies in Central Europe, the news wire SITA wrote.

Yet the country still faces a number of challenges, including the reduction of regional imbalances, health and education reform, law enforcement, completion of privatisation, and the effective use of EU funds, said the EBRD.

In a new strategy for the Slovak Republic, the EBRD has set forth a number of ways in which it will aim to support the country in meeting these challenges.

In the enterprise sector the bank will continue to actively support the restructuring and consolidation of the private sector alongside strategic investors or through equity funds.

The bank will support regional development by encouraging foreign direct investment outside the Bratislava region and will further support small and medium-sized enterprises, including those in the agribusiness sector.

In the financial sector the EBRD will continue to invest in equity funds and expand the volume and spectrum of financing instruments for small and medium-sized enterprises, municipalities, and agribusinesses.

In the energy sector the bank will support privatisation, work with developers of independent power plants, and seek to develop energy-saving projects for companies, municipalities, and other public entities.

In the infrastructure sector the bank will support access to funding from EU grant programmes for municipalities and water companies, and provide EU-sponsored facilities to local banks for small municipalities.

In the Slovak Republic, The EBRD has signed 40 projects worth €3.6 billion, including €1.1 billion of EBRD financing, with 83 percent in the private sector.

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

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