Slovakia to cut train fares by 50% and cap fuel profits

The Slovak government has announced a series of measures to combat rising living costs driven by surging fuel prices. Starting October 1, second-class domestic train fares will be reduced by 50% for a period of 30 days. Prime Minister Robert Fico stated that this measure is expected to cost approximately six million euros per month and is intended to encourage a shift from individual car travel to public rail transport.

In addition to railway discounts, the government is planning subsidies to lower costs for regional bus services and urban public transport. The administration intends to cover one-third of the costs incurred by regional governments for suburban bus transport, which could lead to a 30% reduction in fares. The government is also considering a ten-cent cap on profit margins for retail fuel stations to stabilize the economy.

Prime Minister Fico criticized the European Union for its perceived inability to address the fuel crisis effectively, calling for an emergency EU summit to discuss soaring energy prices caused by global tensions.