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Fico: Slovak Railways is first victim of crisis

The first victim of the global economic crisis in Slovakia are the Slovak railways, Prime Minister Robert Fico said after meeting with social partners in Bratislava on December 16. Railways are now in a difficult situation due to expected 40 percent loss in profits in the freight rail transportation.

The first victim of the global economic crisis in Slovakia are the Slovak railways, Prime Minister Robert Fico said after meeting with social partners in Bratislava on December 16. Railways are now in a difficult situation due to expected 40 percent loss in profits in the freight rail transportation.

"It's caused by the fact that large companies won't make use of railways to the same extent they do now," Fico said.

He also reassured railway workers that the Government won’t agree to lay-offs.

Fico continued that Finance Minister Ján Počiatek has already prepared initial plans aimed at financial assistance to the Slovak railways that will help them tackle the impacts of the crisis.

"It mostly concerns moves focusing on the reduction of the loss the railways suffered in 2007," Fico said, adding that the problem of Slovak railways - that has lasted for many years - cannot be resolved without money. TASR

Compiled by Zuzana Vilikovská from press reports
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