NBS: wages grow too fast

THE COUNTRY’S central bank, the National Bank of Slovakia (NBS), is concerned about the pace of wage growth during the first few months of 2005.

The bank claims that wage developments reflect neither inflation nor labour productivity, the daily SME wrote.

In the manufacturing, retail and transportation sectors, wage growth preceded inflation by 5 percent.

NBS Deputy Governor Elena Kohútiková warned that premature wage growth could hurt a country’s economic development. The bank says that when manufacturing sector wages outpace labour productivity, the risk for inflation increases.

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

Get daily Slovak news directly to your inbox

Top stories

Threats have worked. People queued for COVID testing before the official start

The nationwide testing in Slovakia started with four districts in the north. Here is a report from the first day in Orava.

Bardejov

Day two of pilot testing in hardest-hit regions is off to a smoother start

PM Igor Matovič and Health Minister Marek Krajčí are helping the sampling teams, too.

Trstená, the Tvrdošín district

No test, no work. Employees will have to take paid or unpaid leave

Those who will be quarantined with a positive test result will be entitled to pandemic sick leave.

Illustrative stock photo

Autumn holidays change, art schools close too

The ministry will contribute to schools to buy computers and other equipment for distance learning.

Illustrative stock photo