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Parliament passes controversial revision of Act on Prices

With 78 votes from governing coalition MPs, parliament approved on September 17 a draft revision to the law on prices that eases the adoption of measures meant to avert undesirable price development, the SITA newswire wrote.

With 78 votes from governing coalition MPs, parliament approved on September 17 a draft revision to the law on prices that eases the adoption of measures meant to avert undesirable price development, the SITA newswire wrote.

In extreme cases, the revision allows the application of price regulation after Slovakia adopts the euro as its currency next year. According to Finance Minister Ján Počiatek, any potential decision will be preceded by a detailed analysis and evaluation of causes of price increase.

The revision will even enable some state authorities to directly set prices. The revision was criticised by the opposition, which alleged that it will cause some merchants to increase their prices in advance. The National Bank of Slovakia (NBS) and the National Association of Employers (RÚZ) also voiced serious objections to the revision and called for its withdrawal. It will take effect on November 1. SITA

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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