Economists to government: Yesterday was late, you need to act

Top experts worry the Slovak economy will drop further than the economies of other countries.

PM Igor Matovič and Finance Minister Eduard Heger presenting new measures they agreed on with banks.PM Igor Matovič and Finance Minister Eduard Heger presenting new measures they agreed on with banks. (Source: SITA)
Related story:MPs approve economic measures to help individuals and companies affected by the coronavirus Read more 

Slovakia is lagging behind in terms of measures to contain the economic impact of the coronavirus pandemic. Yesterday was too late, wrote the top Slovak economists in their recent letter to the government.

“We are lagging behind not only in terms of time but also volume,” they wrote. “There is a threat that the Slovak economy will drop further than the economies of other countries.”

The initiative came from Ľuboš Pástor, a Slovak professor in finance at the University of Chicago and member of the bank council of the National Bank of Slovakia (NBS).

In the letter he and eight other economists, including a state secretary at the Economy Ministry who signed it, propose more measures that should be adopted in hours and days rather than weeks, to prevent the collapse of the economy.

The rest of this article is premium content at Spectator.sk
Subscribe now for full access

I already have subscription - Sign in

Subscription provides you with:
  • Immediate access to all locked articles (premium content) on Spectator.sk
  • Special weekly news summary + an audio recording with a weekly news summary to listen to at your convenience (received on a weekly basis directly to your e-mail)
  • PDF version of the latest issue of our newspaper, The Slovak Spectator, emailed directly to you
  • Access to all premium content on Sme.sk and Korzar.sk

Get daily Slovak news directly to your inbox

Top stories

Coronavirus comes with an irreversible change to Slovakia's labour market

The pandemic makes work more flexible and intensifies digitalisation.

Digital platforms have become the daily bread at work.

The sad reality behind the masks

When the coronavirus epidemic is gone, we will have to deal with an epidemic of obesity and dementia.

Face masks are obligatory in Slovakia.

A riot in Smer: Pellegrini calls on Fico to step down (news digest)

Hungary will open its border with Slovakia. More people favour self-isolation over state quarantine.

Smer deputy chair Peter Pellegrini called on Smer chair Robert Fico to step down at his press conference on May 26, 2020.

Coronavirus forced precisely the kind of changes Slovakia's schools need

Teachers and experts urge government to keep ‘natural’ school reforms during pandemic.

Illustrative stock photo