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Investment aid has not reached underdeveloped regions

SINCE 2002, Slovakia has provided €1.5 billion in aid for 151 investment projects worth more than €7 billion, but the latest analysis by the Financial Policy Institute (IFP) indicates that the aid has not been consistently focused on supporting the most underdeveloped regions, the TASR newswire reported on April 7.

(Source: Sme )

The IFP, therefore, has created its own model for comparing and evaluating the quality of investment plans. IFP notes that in the past two years €102 million has been approved for 541 projects worth a total of €541 million. Analysts note that the increasing share of state aid in total investment means an increase in the cost, which has grown by an average of 0.9 percent per year.

“A major share of the aid was directed to western and central Slovakia, creating job opportunities,” said IFP analyst Juraj Mach, as quoted by TASR. “Despite the strong demand for job creation in the west, it’s also the most costly. Even though aid per location has risen in eastern Slovakia since the recession in 2009, it is still lower than in regions with lower unemployment.”

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