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Fico's left-leaning government took office nearly a year ago following a landslide victory in parliamentary elections. Fico pledged to maintain a welfare state, increase corporate taxes and hike the income tax on the highest earners, but economic realities may have forced him to take a different tack with U.S. Steel. U.S. Steel has an annual raw steelmaking capacity of about 29 million tons, with 5 million of that coming from the Kosice plant. Actual production in Kosice was 4.2 million tons in 2011 and 4.4 million tons in 2012. Early last year, the Serbian government bought a money-losing U.S. Steel plant for the symbolic sum of $1, hoping to keep 5,400 workers employed.
[Associated
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