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Slovakia given Sk7.8 billion in state aid in 2007

Slovakia's state aid fell by 19.43 percent year-on-year last year to Sk7.8 billion (€257 million), including Sk6.9 billion in national funds and Sk904.45 million from the European Union, according to the 2007 Report on State Aid approved by the government on June 4.

Slovakia's state aid fell by 19.43 percent year-on-year last year to Sk7.8 billion (€257 million), including Sk6.9 billion in national funds and Sk904.45 million from the European Union, according to the 2007 Report on State Aid approved by the government on June 4.

Last year's state aid accounted for 0.42 percent of GDP, with dramatic year-on-year reductions in agriculture (77.46 percent), small and medium-sized enterprises (52.24 percent), education (49.68 percent), and regional development (45.32 percent). But state subsidies for the steel industry soared by 651.84 percent year-on-year in 2007.

The highest proportion of aid was extended by the tax authorities and the Economy Ministry - at 52.51 percent and 27.74 percent, respectively, with the Bratislava and Košice Regions the biggest recipients.

State-aid providers say in the report that the effect of aid on the country's economic and regional development in 2007 cannot be assessed for most subsidized projects, as they have not been completed and the funds have not been fully drawn. TASR

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

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