Decrease in public finances might jeopardise jobs

Jobs might be in jeopardy again, as companies start to show concerns about a potential decrease in public finances estimated to occur next year, according to the Hospodárske Noviny daily. Cuts in public finances might mean that firms won't have enough work for all employees, who had participated in state-run projects. The vibrant labour market in Slovakia thus could quickly become a thing of the past, states the daily. At the moment, the state has attempted to spend money from the first package of European funds and it was this very package that has contributed to the massive boost in public investments in 2015. Slovakia is slated to draw a new package as of January, yet the impact of Eurofunds on national economy won't be so pronounced next year. "Speaking from experience, the drawing process is much slower in its first years. Due to this, the volume of public investments might decrease", economic advisor to the Representation of European Commission in Slovakia Lívia Vašáková told the daily.