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

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Economy

Selected Administrative Fees Will Not Be Reduced

Slovakia will not reduce certain administrative fees that were significantly increased as part of a fiscal consolidation package that took effect on April 1, 2024. The decision affects various government service charges that were raised to help address the country's budget deficit. The consolidation package, which included these fee increases among other austerity measures, was implemented by the current government to improve Slovakia's fiscal position and reduce public debt.

TASR/Teraz
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Economy

Financial Experts Outline Investment Options for Three-Year Savings Goals

Financial advisors are highlighting alternatives to traditional bank term deposits for individuals planning to access their savings in three years. The Slovak market offers several investment options beyond standard banking products, each with distinct advantages and disadvantages for medium-term financial planning. These alternatives provide different risk-return profiles for savers looking to maximize returns while maintaining liquidity for their three-year timeline.

Aktuality
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Economy

Slovak State Revenue Rises from Payroll Taxes Despite Missing Overall Target

Slovakia recorded higher tax revenues from payroll taxes but experienced declines in corporate taxes and VAT collections, according to newly released government figures. The state achieved year-on-year revenue growth despite falling short of its planned tax collection targets. The mixed results reflect broader economic trends affecting different sectors of the Slovak economy, with employment-related taxes performing better than business and consumption-based levies.

SME
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Economy

Slovak Transport Companies Criticize Higher Fuel Costs After Druzhba Pipeline Disruption

Slovak transport companies are facing higher fuel costs following disruptions to the Druzhba oil pipeline, leading to criticism from the industry and warnings of potential price increases for goods. The Association of Road Transport Operators (Česmad), which represents Slovak trucking companies, is considering organizing protests in response to the fuel price situation. The companies argue that they were able to purchase fuel at lower prices before the pipeline issues began affecting supplies. The transport sector's concerns highlight the potential broader economic impact, as higher fuel costs for freight companies typically translate into increased prices for consumer goods and services across the economy.

SME
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Economy

British Oil Giant Shell Reports Nearly 25% Profit Increase

British oil giant Shell announced its profits rose by nearly 25% in the latest reporting period. The company attributed the strong financial performance to higher oil and natural gas prices, which boosted revenues across its global operations. Shell, one of the world's largest energy companies, benefited from elevated energy commodity prices that have supported the broader oil and gas sector's profitability.

SME
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Economy

Slovakia Increases Support for Dairy Farmers to 35.6 Million Euros Amid Milk Crisis

Slovakia's Agriculture Ministry announced a significant increase in financial support for dairy cattle farmers, raising aid to 35.6 million euros for the 2026 campaign period. The government positioned this funding as one of the highest levels of dairy support within the European Union, aimed at helping farmers weather an ongoing milk crisis affecting the sector. The substantial increase in state assistance reflects the challenges facing Slovak dairy producers and the government's effort to maintain the viability of the domestic dairy industry during difficult market conditions.

Aktuality
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Economy

German Defense Contractor Rheinmetall Reports Increased Revenue and Operating Profit

Rheinmetall, the German defense and automotive technology company, reported higher revenue and operating profit in its latest financial results. The company currently employs approximately 34,000 people worldwide. Rheinmetall has become one of Europe's largest defense contractors, producing military vehicles, ammunition, and defense systems, and has seen increased demand for its products amid heightened security concerns in Europe following Russia's invasion of Ukraine.

SME
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Economy

U.S. Steel Košice Agrees to New Collective Bargaining Agreement with Pay Raises and Benefits

U.S. Steel Košice, the American steel company's Slovak subsidiary, has concluded a new collective bargaining agreement with its workers that includes higher wages and expanded employee benefits. The agreement comes after months of tension between management and employees at the major industrial facility in eastern Slovakia. Trade unions expressed confidence that the new deal will help ease workplace disputes and improve relations with the workforce. U.S. Steel Košice operates one of Slovakia's largest industrial complexes and is a significant employer in the Košice region, making labor agreements at the facility closely watched for their potential economic impact on the area.

Aktuality
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Economy

Slovak Furniture Giant Decodom Faces Imminent Bankruptcy After Production Halt

Decodom, one of Slovakia's largest furniture manufacturers, faces bankruptcy proceedings after the weekend unless its owner secures emergency financing. The Topoľčany-based company, once considered Slovakia's answer to IKEA, has halted production for several weeks due to cash flow problems and lacks funds to purchase basic materials. The company has paid employees only 55 percent of their March salaries and is currently negotiating with commercial banks and the state-owned Eximbanka for new credit lines. Decodom built its reputation not just through furniture manufacturing but by developing a comprehensive business model similar to the Swedish furniture giant, establishing itself as a significant player in the Slovak furniture industry before its current financial crisis.

Dennik N
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Economy

Slovak Economist Warns Country's Economic Model Has Lost Its Edge

Slovakia's economy has stagnated as the country remains dependent on cheap labor and foreign investment rather than transitioning to a knowledge-based economy, according to economist Vladimír Baláž from the Slovak Academy of Sciences' Institute for Forecasting. The researcher warned that Slovakia's former reputation as the "Tatra Tiger" - a reference to rapid economic growth in previous decades - has diminished to that of a "limping cat." Baláž argued that simple solutions like tax cuts are insufficient to revive growth, emphasizing instead the need to strengthen science, research, technology and innovation. He also addressed housing affordability issues, suggesting that increased construction activity could help resolve the problem of expensive housing, particularly in Bratislava.

Dennik N
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Economy

Major Slovak construction company Decodom fails to pay March salaries as crisis deepens

Decodom, a major Slovak construction company, has reached a critical point in its financial crisis after failing to pay employee salaries for March. The company, which had previously been granted court approval for restructuring proceedings, is now experiencing mass departures as key management personnel resign and disappointed workers submit their resignations. The crisis manager overseeing the restructuring process has also stepped down, signaling the severity of the company's deteriorating financial situation. The developments represent a significant escalation in Decodom's troubles, with employee tensions rising despite the legal framework that was supposed to help stabilize the business. The inability to meet payroll obligations marks one of the most serious phases of the company's crisis, potentially affecting hundreds of workers and raising questions about the viability of the restructuring efforts.

Aktuality
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Economy

Economic Newsletter: Retirement Projections May Shock Many Slovak Entrepreneurs

A Slovak economic newsletter highlighted concerns that future pension projections could surprise many self-employed individuals in the country. The report comes amid broader global economic developments, including falling oil and gas prices despite ongoing tensions in key regions. While global markets showed mild optimism, geopolitical uncertainties continue to affect international trade and energy markets, with implications for Slovakia's economic outlook.

Dennik N
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Economy

Traditional Slovak Factory Tells Workers It Cannot Pay Wages

Decodom, a traditional Slovak manufacturing company, has informed its employees that it cannot pay their wages and they must wait for payment. The company is struggling for survival amid financial difficulties. The factory's announcement to workers highlights the broader economic pressures facing traditional manufacturing businesses in Slovakia, where companies are grappling with rising costs and market challenges that threaten their ability to meet basic obligations to employees.

SME
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Economy

Chinese Automaker Geely Purchases Part of Ford Plant in Spain

Chinese automotive manufacturer Geely has acquired a portion of Ford's manufacturing facility in Spain. The acquisition represents another expansion move by the Chinese company into European automotive markets. Geely has not responded to requests for comment regarding the latest development.

SME
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Economy

Slovakia Issues 700 Million Swiss Francs in Government Bonds

Slovakia successfully sold 700 million Swiss francs worth of government bonds in three separate tranches with maturities of three, six, and ten years. The bond issuance represents another successful placement of Slovak government securities in Switzerland, following a previous emission completed in April 2024. The diversification into Swiss franc-denominated debt allows Slovakia to tap into different investor markets and currencies beyond the eurozone, potentially reducing financing costs and currency risk for the government's borrowing needs.

SMETASR/Teraz
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Economy

New Player Enters Slovak Rental Housing Market Promising 3,000 Units

Another company has entered Slovakia's rental housing market, promising to deliver 3,000 rental apartments while receiving attractive bonuses from the state. The move comes as the sector remains dominated by Kooperativa, an insurance company that currently operates hundreds of rental units. The Slovak government has been offering financial incentives to encourage private sector participation in addressing the country's housing shortage, particularly in the rental market where supply has struggled to meet growing demand in major cities.

SME
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Economy

Major Slovak Water Park Falls into Financial Loss Following Tragedy

Vadaš Thermal Resort in Štúrovo, one of Slovakia's largest water parks, has reported financial losses following a difficult year marked by a tragic incident. The thermal resort, located in the southern Slovak town of Štúrovo near the Hungarian border, experienced significant operational challenges that pushed the facility into the red. The water park, which has been a popular destination for both Slovak and international visitors due to its thermal pools and recreational facilities, now faces financial difficulties as it works to recover from the impact of the tragedy that affected its operations.

SME
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Economy

African Swine Fever Outbreak Forces Culling of Over 800 Pigs at Central Slovakia Commercial Farm

African swine fever has struck a commercial pig farm in central Slovakia, requiring the culling of more than 800 pigs to contain the outbreak. Authorities have imposed an immediate ban on transporting pigs between farms in the affected area until further notice. The outbreak represents a significant threat to Slovakia's pork industry, as African swine fever is a highly contagious viral disease that affects domestic pigs and wild boar, causing severe economic losses through mandatory culling and trade restrictions, though it poses no direct risk to human health.

Aktuality
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Economy

Norwegian Oil Giant Equinor Reports 20% Profit Increase in First Quarter

Norwegian oil company Equinor achieved a nearly 20% increase in profits during the first quarter of this year. The strong financial results were driven by record-breaking production levels, with the company reaching 2.31 million barrels of oil equivalent per day during the period. This production milestone represents a significant achievement for the state-controlled energy giant, which is one of Europe's largest oil and gas producers and plays a crucial role in global energy markets amid ongoing volatility in the sector.

TASR/Teraz
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Economy

Slovakia Maintains A Credit Rating with Stable Outlook

Slovakia has retained its A credit rating with a stable outlook from a major credit rating agency. The rating reflects the country's current economic stability and creditworthiness in international financial markets. Credit ratings are crucial indicators that influence a country's borrowing costs and investment attractiveness, with an A rating representing upper-medium grade investment quality.

SME
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