Anti-crisis measures will cost €1.46 billion this year

The total amount spent on anti-crisis measures in Slovakia this year will reach €1.462 billion or 2.3 percent of Slovakia's GDP, with the budget expansion representing €282 million or 0.4 percent of GDP, according to the implementation report of the National Reform Programme for 2008-10 presented on Wednesday, October 14, the TASR newswire reported.

The total amount spent on anti-crisis measures in Slovakia this year will reach €1.462 billion or 2.3 percent of Slovakia's GDP, with the budget expansion representing €282 million or 0.4 percent of GDP, according to the implementation report of the National Reform Programme for 2008-10 presented on Wednesday, October 14, the TASR newswire reported.

According to the document, which was approved by the government and is due to be submitted to the European Commission, the total expenditures on anti-crisis measures in Slovakia next year are expected to reach €585 million or 0.9 percent of GDP, with the budget expansion reaching €399 million or 0.6 percent of GDP.

The set of anti-crisis measures was approved in reaction to deterioration in the Slovak economy and were in line with a call formulated in the Plan for Europe's Economic Renewal in November 2008, TASR wrote. The anti-crisis measures were approved by the government in three packages that were later extended.

Specific measures were aimed, for example, at reducing the administrative burden of companies and taxes and deductions for employed people, support for small and medium-sized businesses, improvements in energy efficiency in industry, research and development support, job creation, sustaining employment and increasing the flexibility of the labour market. 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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