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Stimulus for companies increases

Economy Minister Tomáš Malatinský plans to establish about 1,600 new jobs. The ministry has already approved state aid in the form of tax relief worth €90 million, which it wants to divide among seven companies. Yet, some critics have reproached the government for unclear distribution of the aid, the Sme daily reported.

Economy Minister Tomáš Malatinský plans to establish about 1,600 new jobs. The ministry has already approved state aid in the form of tax relief worth €90 million, which it wants to divide among seven companies. Yet, some critics have reproached the government for unclear distribution of the aid, the Sme daily reported.

€27.5 million in aid has been approved for the company Magneti Marelli, which wants to employ 612 people in Kechnec. A further 520 people should find jobs in Krušovce in the Topoľčany district at the ZKW Slovakia plant, which produces lighting systems for cars. The ministry also approved €25 million in aid for Ružomberok-based paper mill Mondi SCP.

Yet, critics are uncertain as to whether the state aid will be adequate. An economist with the Slovak Academy of Sciences (SAV), Vladimír Baláž, says that the government should assess all criteria, in particular, whether the stimuli will enable the companies to create new jobs in regions with high unemployment rates, or whether they will support the development of the economy through the use of new technologies, Sme wrote.

Baláž added that some of the companies receiving the aid are suppliers of automotive firms and are often located in regions with low jobless rates. Moreover, he questions the stimulus for Mondi SCP since it will not create any new jobs.

Source: Sme

Compiled by Radka Minarechová from press reports

The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.

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