Economy Minister sees stabilised employment in 2010

Slovak Economy Minister Ľubomír Jahnátek told the TASR newswire in an interview that he believes that Slovakia will manage to stabilise the employment situation. “Macroeconomic experience says that if the national economy doesn't begin to rise by 4 percent of GDP, the decline in jobs will continue,” said the minister.

Slovak Economy Minister Ľubomír Jahnátek told the TASR newswire in an interview that he believes that Slovakia will manage to stabilise the employment situation. “Macroeconomic experience says that if the national economy doesn't begin to rise by 4 percent of GDP, the decline in jobs will continue,” said the minister.

“We expect that if the national economies in the EU stabilise and begin to rise, the (negative) trend in unemployment will halt. It's difficult to say, however, whether we’ll manage to halt the trend in unemployment, or at least to mitigate it; or whether it will continue for another two years at least,” said Jahnatek. The economy minister offered his personal opinion that new jobs should begin to emerge again throughout Europe in 2013.

The year 2010 will involve a great deal of suspense and will be affected by three key events, the chief analyst of Austrian Volksbank's Slovak unit, Vladimír Vano, told TASR in an interview. “The first will be developments overseas and in the eurozone once the effects of stimuli to stoke the economy such as the government car scrapping bonus have tapered off,” said Vano.

Another major and monitored indicator will be developments in the country's employment and unemployment rates. Vano expects a delay between developments in the real economy and the labour market. The third intensively monitored event in 2010 will be the performance of revenue in the state budget and plans to consolidate public finances at 5.5 percent of Gross Domestic Product (GDP). 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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