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Last refreshed: 06/06/2026 21:36 · 34 articles added
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Economy

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Economy

Slovak Economist Warns of Two Decades of Underinvestment Weakening Economy

Slovakia's economic weakness stems from years of inadequate investment and excessive focus on consumption rather than productive economic sectors, according to an economic analysis. The economist highlighted that Slovakia invests too little in its economy, and when investments are made, they often fail to reach the most productive parts of the economic system. The warning suggests that Slovakia's current economic challenges are the result of neglecting fundamental investment priorities over a 20-year period, rather than a sudden deterioration.

Aktuality
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Economy

Slovak Timber Industry Faces Mixed Results as Major Wood Processors Show Contrasting Performance

Slovakia's timber processing sector experienced significant shifts in 2023, with major companies showing contrasting financial results. The former Bučina plant in Zvolen, now owned by Austrian-Romanian conglomerate Kronospan, reported its first loss in a decade with a deficit of 3.7 million euros after years of profitable operations. Meanwhile, the successor to the former Smrečina company in Banská Bystrica, now controlled by Austrian construction group Doka, improved its performance and generated profits of 2.6 million euros. The mixed results reflect broader challenges facing Slovakia's wood processing industry, with even the country's largest sawmill in the Liptov region reporting losses. However, state-owned forestry company Lesy SR, which supplies raw timber to processors, continues to maintain stable profits, highlighting the contrast between timber suppliers and manufacturers in the sector.

Dennik N
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Economy

Slovakia's Tax Authority Seeks Anonymous Tips on Businesses Refusing Card Payments

Slovakia's Financial Administration is accepting anonymous reports about businesses that do not offer cashless payment options. The tax authority has launched an initiative to identify establishments that may be violating payment regulations by refusing to accept card payments from customers. This enforcement effort targets businesses that operate on a cash-only basis, which can be used to evade tax obligations and underreport revenues to authorities.

Bratislavak
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Economy

Green Energy Subsidies Made More Accessible for Slovak Households

Slovakia has expanded access to green energy subsidies by implementing more generous eligibility limits for households. The new thresholds apply to all vouchers issued since June, making the financial support program available to a broader range of families seeking to invest in renewable energy solutions. The changes represent an effort by the government to accelerate the adoption of environmentally friendly energy technologies among Slovak consumers by reducing barriers to participation in the subsidy scheme.

SME
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Economy

Food Price Pressures Cannot Be Ruled Out in Coming Months, Analysts Warn

Slovak analysts warn that pressure on food prices cannot be excluded in the coming months, highlighting concerns about continued inflationary trends. Food items remain a significant channel for inflation in the Slovak economy. The warning suggests that despite recent economic stabilization efforts, food costs may continue to impact household budgets and overall price levels in Slovakia, where food inflation has been a persistent concern for consumers and policymakers alike.

SME
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Economy

French automotive parts manufacturer reports record year at Slovak plant

Plastic Omnium Auto Exteriors, a French automotive components manufacturer, achieved record performance at its facility in the Záhorie region of western Slovakia. The company reported strong financial results that will result in millions of euros being transferred from its Slovak operations. The plant, which produces exterior automotive parts, experienced its most successful year to date, reflecting broader trends in Slovakia's automotive manufacturing sector, which serves as a major production hub for international car manufacturers and their suppliers.

SME
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Economy

Slovakia's Tax Authority Prepares Changes to Sales Registration Law with Lower Penalties

Slovakia's Financial Administration is preparing amendments to the electronic sales registration law that would introduce more proportionate penalties and clearer regulations. The proposed changes aim to create better conditions for honest entrepreneurs operating under the country's mandatory electronic cash register system. The electronic sales registration system, known as EKO, requires businesses to electronically record and report all sales transactions to tax authorities in real-time, but has faced criticism from business owners over complex compliance requirements and harsh penalties for violations.

SME
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Economy

Slovak PM and Finance Minister Face Criticism Over Public Finance Consolidation Claims

Prime Minister Robert Fico and Finance Minister Ladislav Kamenický are exaggerating their success in improving Slovakia's public finances, according to public finance experts. Both politicians from Smer-SD, the ruling social-democratic party, claim their fiscal consolidation measures are working effectively. However, experts say the situation is more complex than the government portrays. The consolidation measures introduced by the government are proving unpopular with the public, are dampening economic growth, and their actual effectiveness remains questionable, creating mounting challenges for the administration's fiscal policy.

Dennik N
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Economy

Legal Expert: Companies Fleeing to Austria for Better Business Conditions

A legal expert has highlighted a growing trend of Slovak companies relocating their operations to Austria in search of more favorable business conditions. The movement reflects concerns about Slovakia's current business environment and regulatory framework. Austria appears to be attracting Slovak entrepreneurs and businesses with what are perceived as superior operating conditions, though the specific advantages driving this migration were not detailed in the available information.

SME
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Economy

Slovak Consumers More Cautious in Electronics Purchases as Price Increases Loom

Slovak consumers have become more careful with their spending on electronics, according to Vladimír Sušil, commercial director of NAY, the country's largest electronics retailer. The company recently merged its NAY and DATART brands and launched a new website, testing the operations of Slovakia's biggest electronics seller. Sušil noted that Slovak shopping behavior has changed significantly, with purchasing decisions now made within minutes rather than extended consideration periods. The retail executive warned that Slovakia could face product shortages and higher technology prices in the coming autumn season, reflecting broader economic pressures affecting consumer electronics markets.

Aktuality
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Economy

Green Atrium Project Offers Premium Maisonette Apartments with Enhanced Pricing

A residential development called Green Atrium is marketing premium maisonette apartments featuring flexible living spaces and improved pricing terms. The multi-level units are designed with stairs separating day and night areas, allowing for versatile use as private homes, studios, or rental properties while maintaining privacy. The developer is positioning the spatial flexibility as a long-term investment advantage for both residential living and commercial rental purposes.

Aktuality
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Economy

Slovakia to Require Companies to Disclose Salary Information Within a Month

Slovakia will implement new transparency requirements for corporate salaries within less than a month, ending the secrecy around workplace compensation. The measure comes as the country faces severe drought conditions that climate experts warn could have catastrophic consequences if critical environmental tipping points are breached. The Slovak government met yesterday to address current policy issues, with the salary disclosure requirement representing a significant shift toward workplace transparency in the Central European nation.

Dennik N
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Economy

Apartments in Established Neighborhoods Available at Launch Prices

Real estate developers are offering apartments in established neighborhoods at introductory prices, marking a notable shift in Slovakia's housing market. The promotional pricing represents an opportunity for buyers in areas that typically command higher prices due to their developed infrastructure and amenities. Industry observers suggest that buyers should act quickly on such offers, as hesitation could mean missing out on favorable deals in desirable locations.

Korzár
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Economy

Construction supervision failures identified at Prešov hospital project with millions in damages

Construction defects involving faulty support columns have been discovered at a hospital construction project in Prešov, with Interior Minister Matúš Šutaj Eštok's deputy Robert Kaliňák estimating damages in the millions of euros. The problematic columns were built starting in mid-March, and authorities have now identified the individuals responsible for construction supervision during the period when the defective work was carried out. The case highlights ongoing issues with construction oversight in major Slovak infrastructure projects, as the hospital represents a significant public investment in the eastern Slovak city of Prešov.

SME
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Economy

Slovakia's Environment Minister Proposes Energy Cost Relief for Businesses Using Environmental Fund

Environment Minister Tomáš Saková announced plans to help businesses struggling with high energy costs through a package of measures that would redirect hundreds of millions of euros from the Environmental Fund. The proposed relief package includes rebates, reduced fees, and tax breaks aimed at supporting companies facing elevated energy expenses. The initiative would significantly tap into the Environmental Fund's resources to provide financial assistance to the business sector during the current period of high energy prices.

SME
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Economy

Slovakia Advances National Brownfield Mapping Project

Slovakia has made progress on its national brownfield mapping project, which was launched in August of last year. The systematic collection of data has now begun as part of the initiative to catalog abandoned or underutilized industrial sites across the country. Brownfields, typically former industrial or commercial properties that may contain environmental contamination, represent significant redevelopment opportunities. The mapping project aims to create a comprehensive database of these sites, which could facilitate their future rehabilitation and economic reuse. Such initiatives are common across European Union countries as part of sustainable urban development and environmental remediation efforts.

TASR/Teraz
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Economy

Teplárenský Holding to Renovate 15 Heat Exchange Stations

Teplárenský Holding, a Slovak energy company, will renovate 15 heat exchange stations across its network. These heat delivery stations serve as critical infrastructure that transfers heat from central heating plants to end users, including residential buildings and individual apartments. The renovation project aims to improve the efficiency of the district heating system that supplies thermal energy to consumers throughout the company's service area.

TASR/Teraz
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Economy

Slovakia faces nearly one billion euros in unreported revenue from high-risk sectors annually

Slovakia continues to grapple with massive tax evasion, with businesses in the country's highest-risk sectors failing to report nearly one billion euros in revenue each year. The scale of the problem highlights ongoing challenges in tax collection and compliance that have plagued the Central European nation's public finances. Tax evasion remains a persistent issue for Slovakia's economy, reducing government revenues needed for public services and infrastructure while creating unfair competitive advantages for non-compliant businesses over those that properly report their income.

SME
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Economy

Former Minister's Industrial Company Sees Sharp Drop in Revenue and Profits

SAM Industries, a company owned by former Construction and Regional Development Minister László Gyurovszky, experienced a dramatic decline in financial performance last year. The firm's revenues fell to less than half of the previous year's figures, while profits dropped to just a quarter of their 2023 levels. The company had enjoyed exceptional success in 2024, benefiting from investments by refineries that were transitioning away from Russian oil imports following the COVID-19 pandemic. Despite the sharp downturn, SAM Industries continues to invest in expansion, anticipating a recovery in orders. The company's brief period of extraordinary profitability appears to have ended as quickly as it began.

Dennik N
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