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Economy Ministry halts business subsidies saying new law is required

The Slovak Economy Ministry has put future approval of state subsidies to businesses on ice, saying that according to the law on the public administration budget, subsidies can be provided only on the basis of a new law effective as of January 1, 2011, but this has not yet been approved, the SITA newswire reported.

The Slovak Economy Ministry has put future approval of state subsidies to businesses on ice, saying that according to the law on the public administration budget, subsidies can be provided only on the basis of a new law effective as of January 1, 2011, but this has not yet been approved, the SITA newswire reported.

"The Economy Ministry has prepared a draft bill for the government session. After the government's approval the ministry will send the draft to parliament. The law should take effect as of May 1, 2011, at the earliest," the ministry told SITA. As a result, subsidies from the department's budget for 2011 will not be extended before the final approval of the bill in parliament. The government cabinet was expected to discuss the proposed law on January 12 but did not do so.

The State Secretary at the Economy Ministry, Martin Chren, stated after the government session that the talks were halted due to several comments submitted by the Finance Ministry, saying the additional remarks will be incorporated into the draft bill. The ministry said it will do its utmost to finish and put the law into the legislative process as soon as possible, spokesperson for the Economy Ministry Daniela Piršelová announced.

The ministry is responsible for subsidies to the Slovak mining industry, development of SMEs, protection of consumers, development of industrial manufacturing and services, purchases of solar collectors and biomass boilers for households and implementation of regional development measures.

Source: 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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