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Last refreshed: 06/06/2026 10:36 · 51 articles added
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Economy

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Economy

Slovakia sees emergence of new type of debtor amid inflation pressures

A new category of debtor has emerged in Slovakia under the influence of inflation - individuals who are formally in good standing but economically on the edge of financial collapse. These debtors are increasingly giving up on paying bills, creating significant challenges for businesses across multiple sectors. According to experts, this phenomenon is fundamentally changing the landscape for banks, telecommunications operators, energy companies, rental housing providers, and the state itself. The trend represents a shift where people who previously maintained good credit records are now strategically defaulting on payments as economic pressures mount, forcing companies to adapt their collection and risk assessment strategies.

Aktuality
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Economy

Ryanair to Launch New Turin Route from Bratislava Airport This Autumn

Ryanair will introduce a new flight route connecting Bratislava with Turin, Italy, beginning this autumn. The Irish budget airline will add a fourth aircraft to its Bratislava operations to support the expanded service. The new Turin connection will bring Ryanair's total number of routes from Slovakia's capital to 23 destinations, representing the airline's largest winter schedule from Bratislava Airport. The expansion demonstrates Ryanair's growing commitment to the Slovak market, as the carrier continues to build its presence at the country's main international gateway.

SMETASR/Teraz
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Economy

German Chamber of Commerce Downgrades Economic Growth Forecast

The German Chamber of Industry and Commerce (DIHK) has revised its economic growth projections downward amid deteriorating business sentiment across the country. The business mood throughout Germany has sharply worsened in recent months, according to the chamber. Germany, as Europe's largest economy and a major trading partner for Slovakia and other Central European nations, plays a crucial role in regional economic stability, making its economic performance closely watched by neighboring countries and international markets.

TASR/Teraz
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Economy

Slovak Government to Meet in Haniska as Volvo Investment Transforms Three Districts

The Slovak government will hold a meeting in Haniska as major industrial investments, including those from automotive manufacturer Volvo, are set to transform three districts in the region. The multi-million euro investments are expected to boost both industrial development and tourism in the affected areas. The government session in Haniska, a municipality in eastern Slovakia near Košice, signals the significance of the economic developments taking place in the region.

Korzár
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Economy

Employers oppose SNS proposal to remove property tax caps for businesses

Slovak employers are strongly opposing a proposal from the Slovak National Party (SNS) that would eliminate upper limits on property taxes for commercial real estate. The Republic Union of Employers (RÚZ) has rejected the plan, warning it could negatively impact thousands of businesses across Slovakia by giving local governments unlimited authority to set tax rates on corporate properties. The employers' organization argues that removing the current tax rate ceiling may violate constitutional principles. The SNS, a nationalist party that is part of Slovakia's ruling coalition, has proposed the measure as part of broader fiscal policy changes that would significantly expand municipal governments' taxation powers over business properties.

SMEAktuality
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Economy

Slovakia Introduces Electronic Invoicing System to Benefit State and Businesses

Slovakia is implementing an electronic invoicing system that government officials say will benefit both the state and private businesses. Finance Minister Ladislav Kamenický stated that the introduction of e-invoicing will eventually lead to the abolition of the VAT control statement, a reporting requirement that businesses currently must file. The electronic system is designed to streamline tax administration and reduce bureaucratic burden on companies while improving tax collection efficiency for the state.

SME
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Economy

Czech Energy Regulator to Limit Blocking of Unused Electricity in Networks

The Czech energy regulator will introduce restrictions on blocking unused electricity in transmission networks. The measure aims to reduce pressure on rising regulated payments that consumers pay as part of their energy bills. The regulatory change addresses efficiency issues in electricity distribution where unused capacity has been blocked from the grid, contributing to higher costs for end users.

SME
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Economy

Japanese Owner Unveils Decarbonization Plan for Košice Steel Plant with Single Electric Arc Furnace

Nippon Steel, the Japanese owner of Košice steel works, has announced plans to install one new electric arc furnace to replace part of the facility's coal-based production, marking a shift from the previous American owner's more ambitious replacement strategy. The single new furnace will be capable of producing up to 47 percent of the plant's current steel output, while requiring an investment of hundreds of millions of euros. The project aims to reduce carbon dioxide emissions by 56 percent and nitrogen oxide emissions by 25 percent compared to current operations. The decarbonization initiative represents a more measured approach than the previous plan by former American owner U.S. Steel, which had proposed replacing two of the plant's three blast furnaces with electric alternatives. The Košice steel works is one of Slovakia's largest industrial facilities and a major employer in the eastern region, making its environmental modernization significant for both local economic stability and the country's climate commitments.

Dennik N
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Economy

Five Key Factors for Choosing New Housing Beyond Attractive Visualizations

Real estate experts emphasize that purchasing an apartment requires careful consideration beyond impressive marketing materials. Apartment buying ranks among major life decisions that should never be made impulsively, requiring thorough evaluation of multiple factors that extend far beyond aesthetic appeal and promotional visualizations used by developers to attract potential buyers.

Aktuality
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Economy

ECB Official Warns Against Sharp Monetary Tightening Despite Rising Energy Costs

European Central Bank Governing Council member Jannis Stournaras warned against abrupt monetary policy tightening in the eurozone, advocating for cautious measures even as inflation significantly exceeds the ECB's target. Stournaras highlighted concerns about expensive oil and gas prices affecting the economic outlook. The ECB, which sets monetary policy for the 19 countries using the euro including Slovakia, typically aims to keep inflation around 2 percent through interest rate adjustments and other policy tools.

Aktuality
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Economy

Slovakia's Government Economic Package Largely Ignores OECD Reform Recommendations

Slovakia's government is preparing a limited economic growth package that largely disregards comprehensive reform recommendations from the Organisation for Economic Co-operation and Development. The OECD has advised Slovakia to undertake extensive reforms across labor markets, healthcare, education, and public finances to boost economic performance. However, the fourth government of Robert Fico, which returned to power in 2023 as head of a coalition including the social-democratic Smer-SD party, is instead focusing on restricted administrative changes while avoiding measures that would have significant budgetary impacts. The government's proposed economic support measures only partially overlap with OECD recommendations and in several areas take completely different approaches. This divergence highlights the government's reluctance to implement structural reforms that international economic experts consider necessary for Slovakia's long-term economic development, potentially limiting the country's growth potential and competitiveness within the European Union.

Dennik N
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Economy

Slovakia's Nuclear Regulator Approves Startup of Mochovce 4 Reactor

Slovakia's nuclear regulatory authority has granted permission to begin operating the fourth reactor at the Mochovce nuclear power plant, marking a significant milestone for the long-delayed project. The Nuclear Regulatory Authority issued the startup permit on Friday, though the reactor will need several more months to reach full operational capacity. The Mochovce expansion project has faced years of delays due to technical problems, appeals, and investigations into overpriced contracts. The completion of the fourth reactor represents a major step forward for Slovakia's nuclear energy program, as the facility will significantly boost the country's electricity generation capacity. The startup of the fourth block could enable the Slovak state to gain a majority stake in Slovenské elektrárne, the state-owned electricity company that operates the country's nuclear facilities. This development comes as European countries reassess their energy strategies amid concerns about energy security and the transition away from fossil fuels.

Dennik N
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Economy

Slovakia Debates Fair Competition in Energy Market as Battery Storage Faces Market Restrictions

Slovakia is grappling with a dispute over how to create fair competition in its energy market, with standalone battery storage systems effectively cut off from significant portions of the market. The country faces challenges in efficiently integrating new energy technologies into its power system, as technical discussions about optimal technology deployment have been overshadowed by market access restrictions. The debate highlights broader questions about energy market design as Slovakia seeks to modernize its electricity infrastructure while ensuring fair competition among different energy technologies.

Dennik N
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Economy

Beauty Contest Organizer Tops Ružomberok Tax Delinquent List Dominated by Small Business Owners

A beauty contest organizer leads the list of tax delinquents in Ružomberok, a city in northern Slovakia, according to local tax authorities. The list is primarily composed of small business owners and sole traders who have failed to pay their municipal taxes. Ružomberok, located in the Žilina region with a population of approximately 27,000, publishes such lists as part of efforts to collect outstanding tax debts and encourage compliance with local tax obligations.

SME
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Economy

Pepco Group Reports Strong Half-Year Results with Significant Profit and Revenue Growth

Pepco Group announced preliminary results for the six-month period showing substantial increases in both profit and shareholder returns. The European discount retailer attributed the strong performance to successful implementation of its business strategy. The company, which operates discount retail chains across Europe including the Pepco, Poundland, and Dealz brands, demonstrated improved financial metrics during the reporting period.

TASR/Teraz
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Economy

Hungarian Oil Group MOL Reports No Issues with Aviation Fuel Supplies

Hungarian energy company MOL has stated it is experiencing no problems with aviation fuel deliveries and expects no disruptions to its supply chains. The company, which operates across Central and Eastern Europe including Slovakia, described its supply chains as stable with no anticipated interruptions to fuel distribution.

SME
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Economy

Car Sales Drop in Slovakia as Vehicle Fleet Remains Among Europe's Oldest

Car purchases in Slovakia declined during the first quarter of the year, according to new data. The statistics reveal that older vehicles continue to dominate the market, with Slovakia maintaining one of Europe's oldest vehicle fleets. The data underscores ongoing challenges in modernizing the country's automotive sector, as consumers appear to be favoring used cars over newer models. Slovakia's aging vehicle park reflects broader economic patterns affecting consumer purchasing power and preferences in the automotive market.

SME
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Economy

Slovakia's Labor Costs Match Sweden While Wages Trail Romania

Slovakia's labor costs have reached levels comparable to Sweden, yet workers earn less than their counterparts in Romania, highlighting a growing economic disparity. The Fico government has been increasing tax collection and social contributions, driving up the total cost of employment while wages remain relatively low. This development underscores Slovakia's challenging position in the European economy, where high labor costs are not translating into proportionally higher take-home pay for workers, potentially affecting the country's competitiveness and living standards.

SME
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Economy

Train drivers challenge Transport Ministry's half-million euro body camera purchase plan

Train drivers have questioned the Transport Ministry's plan to purchase 430 body cameras for more than half a million euros. The locomotive operators are demanding detailed cost calculations and explanations from the ministry regarding the expenses for the camera procurement project. The drivers appear to be challenging both the scale and cost-effectiveness of the proposed body camera system, which would represent a significant investment in monitoring equipment for railway operations.

Aktuality
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Economy

European Stocks Hit Two-Month Highs on Iran-US Peace Optimism

European stock markets reached their highest levels in more than two months on Monday, driven by investor optimism about potential diplomatic progress between Iran and the United States. Market sentiment improved on hopes that the two countries could reach an agreement to end their ongoing conflict, which helped ease concerns about inflation and global economic slowdown.

SMETASR/Teraz
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