Slovak PM targets banks to boost revenue

Slovak prime minister Robert Fico

It is now clear that banks inSlovakiawill be asked to make a significant contribution to the government’s effort to boost its revenue and reduce the country’s public finance deficit.

The government has announced it will pursue a higher rate for the so-called special levy that banks began paying this year, while also mandating that banks offer a low-cost banking product so that the burden of the levy does not fall on the most vulnerable customers via higher fees.

A similar basic banking package mandated by the Finance Ministry in 2010 to fire up bank competition on fees attracted only a handful of customers.

For the full story, please visit The Slovak Spectator.

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