Spectator on facebook

Spectator on facebook

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.

Top stories

Bratislava growing high Photo

High-rise buildings sprouting up in Bratislava

Visualisation of the future skyline of Bratislava

People of Pezinok fighting against landfill again

Dispute over controversial Pezinok waste dump, which started 18 years ago, continues.

The controversial landfill site in Pezinok

Crisis ends in Danko’s defeat

Education minister steps down following Fico’s call, Danko not ruling out he might leave politics.

Former education minister Peter Plavčan and PM Robert Fico on July 24.

First Slovak woman crossed the English Channel

Before her, only six Slovak men had managed to complete the difficult swim.