THE QUARTER IN BUSINESS

STV plans a debt and asks for a billion crowns

The council supervising public broadcaster Slovak Television (STV) has approved the new STV budget, which again forecasts a loss in 2008 and expects the state to cough up Sk1 billion to cover part of the loss. The rest of the funds will be used to launch a new sports channel, STV3.

(Source: SITA)

The council supervising public broadcaster Slovak Television (STV) has approved the new STV budget, which again forecasts a loss in 2008 and expects the state to cough up Sk1 billion to cover part of the loss. The rest of the funds will be used to launch a new sports channel, STV3.

The budget does not mention how the broadcaster intends to cover last year’s loss of Sk200 million.

Two members of the council who didn’t vote for the budget, Peter Malec and Miroslav Kollár, argue that the loss will be higher this year because revenues have been overestimated by at least Sk100 million, while the costs of STV’s planned projects have been underestimated.

The state budget doesn’t count on channelling money into STV, said Finance Minister Ján Počiatek.

Culture Minister Marek Maďarič added that the fact STV is planning for a loss indicates that its management is handling its finances poorly.

Get daily Slovak news directly to your inbox

Top stories

Haščák of Penta detained and accused

Dozens of police officers raided Digital Park, the headquarters of the financial group.

Jaroslav Haščák

Car industry needs to jump on the latest trends

Economy minister promises extensive support for hydrogen technologies in Slovakia.

The Hydrogen Technology Research Centre (CVVT) is to be launched at the end of 2020 or beginning of 2021 in Košice to do R&D in this field.

Responsibility goes hand in hand with EU advantages, says President Čaputová

President Zuzana Čaputová spoke with Vice President of the European Commission for Values and Transparency, Věra Jourová.

President Zuzana Čaputová

Slovak economy will drop more than 6 percent this year

OECD December prognosis expects the economy to grow again next year.

National Bank of Slovakia