Government's Monetary and Fiscal Policy Threaten Imports and Jobs in Slovene Glassworks

Hrastnik, 19 May - GLASSWORKS/HRASTNIK
The government's policy of preventing tolar to move in accordance to the inflation rate, has pushed the Hrastnik Glassworks, an important exporter, in deep trouble. The Glassworks has in 1994 exported 85 percent of its products to the developed markets, but lost SIT 200 million (DEM 2.5 million) of its exports. Because these negative trends continue, the Glassworks decided to reduce the production as well as 50 jobs, said the Hrastnik Glassworks' Director Stojan Binder in an interview for STA.