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Last refreshed: 05/06/2026 21:42 · 44 articles added
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Economy

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Economy

Slovak Prime Minister Rejects Criticism of Pro-Growth Measures, Warns Employers Against Treating Government as 'Punching Bag'

Slovak Prime Minister Robert Fico rejected criticism of his government's pro-growth economic measures and delivered a pointed message to employers, telling them not to treat the government as a "punching bag." Despite the sharp rhetoric, Fico stated that he does not want to enter into conflict with employers. The exchange highlights growing tensions between the government and business sector over economic policy, as Fico's administration pursues measures it describes as aimed at promoting economic growth. Fico, who leads the ruling social-democratic Smer-SD party, has previously clashed with business groups over various policy initiatives since returning to power.

SME
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Economy

Slovak Prime Minister Says Country Does Not Need Wind Farms for Energy Independence

Slovak Prime Minister Robert Fico declared that Slovakia does not need wind farms to achieve energy independence, citing the country's current energy composition. Fico argued that Slovakia already has an excellent energy mix, producing 85% of its electricity from carbon-free sources. The prime minister also referenced the country's plans for nuclear energy development as part of Slovakia's energy strategy. Slovakia's energy sector is heavily dependent on nuclear power, which provides the majority of the country's electricity generation, supplemented by hydroelectric and other renewable sources.

AktualityTASR/Teraz
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Economy

OECD Downgrades Global Economic Growth Outlook Due to Middle East Tensions

The Organisation for Economic Co-operation and Development has downgraded its outlook for global economic growth, citing escalating conflict in the Middle East as a primary factor. The ongoing war in the region is driving up energy prices and pushing inflation higher worldwide, creating additional pressure on the global economy.

Aktuality
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Economy

Slovak industrial producer prices rise 2.1% in April, outpacing eurozone average

Slovak industrial producer prices increased by 2.1% month-on-month in April, significantly exceeding the eurozone average growth of 0.6%. The Slovak price increase also surpassed the European Union average for the month. Producer prices measure the cost of goods at the factory level and are considered an early indicator of consumer price trends, making this data relevant for inflation monitoring and monetary policy decisions.

TASR/Teraz
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Economy

KON-RAD launches 'Click and Collect' service for online customers

Slovak retailer KON-RAD has introduced a new 'Click and Collect' service that allows customers to order products online and pick them up at stores without waiting for delayed deliveries or searching for items in-store. The service enables shoppers to place orders through the company's website and collect their prepared purchases directly from retail locations, streamlining the shopping process by combining online convenience with immediate pickup availability.

TASR/Teraz
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Economy

Fast-Growing Slovak Laundry Fragrance Company Puellavone Posts Nearly Million-Euro Loss

Puellavone, a Slovak company specializing in scented fabric softeners sold online, reported a loss of nearly one million euros despite continued revenue growth. The firm, founded by Martin Švenk when he was 25 years old, achieved rapid growth in its early years but has struggled as expansion into foreign markets increased costs faster than revenues. Švenk hired new employees last year but has since streamlined the business operations this year to address the financial challenges facing the young company.

Dennik N
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Economy

Slovak Consumers Cut Spending as Fashion Retailers Report Declining Demand

Slovak consumers are reducing their spending as economic pressures mount, leading fashion retailers to report weakening demand for clothing and accessories. The trend has prompted some retail chains to close branches across the country as they struggle with decreased sales. A major retail chain has publicly acknowledged facing significant challenges in the Slovak market, reflecting broader consumer belt-tightening amid economic uncertainty. The retail sector's difficulties highlight the impact of inflation and reduced disposable income on Slovak households' purchasing behavior.

Bratislavak
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Economy

Finance Ministry Plans to Reduce Bureaucracy Through Excise Tax Reforms

Slovakia's Finance Ministry is preparing changes to excise tax regulations aimed at reducing bureaucratic burden on businesses. The proposed reforms would grant greater trust and procedural flexibility to tax-compliant entities, allowing them to operate with fewer administrative requirements. The ministry's initiative represents part of broader efforts to streamline the country's tax administration system and improve the business environment for reliable taxpayers who have demonstrated consistent compliance with tax obligations.

SME
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Economy

Modern Laundry Services Target Slovak Agricultural Sector's Workwear Challenges

Slovak agriculture is undergoing significant modernization with investments in advanced technology, automation, and more efficient processes. However, many cooperatives, farms, and agricultural operations continue to struggle with an outdated practice from the past - the daily operational challenge of managing dirty work clothing. The agricultural sector's modernization efforts have focused on technical improvements while leaving behind practical workplace issues like proper workwear cleaning services.

Aktuality
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Economy

Czech Business Expectations Drop to Two-Year Low Amid Geopolitical Risks

Business expectations among Czech companies have fallen to their lowest level in approximately two years, according to recent data. The deteriorating business sentiment is attributed to growing geopolitical risks affecting the regional economy. The decline reflects broader concerns about economic stability in Central Europe, where businesses are grappling with uncertainty stemming from international tensions and their potential impact on trade and investment flows.

SME
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Economy

Major Slovak Transport Company Falls into Bankruptcy amid Tax Debt Chain

Another million-euro company has entered bankruptcy proceedings as part of a chain of tax debtors linked to Slovak businessmen Martin Vasilenko and Miloš Kazimír. The two entrepreneurs previously controlled the Korida transport and logistics group, which despite generating millions in revenue also recorded massive losses before being merged into a waste management company controlled by front companies. That waste company ultimately collapsed with tax debts exceeding 5.3 million euros. The business duo has now resurfaced controlling operations in the Czech city of Ostrava, continuing a pattern of corporate structures that accumulate significant tax obligations before failing.

Dennik N
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Economy

Another Million-Euro Company from Tax Debtor Chain Enters Bankruptcy

A million-euro company linked to businessmen Martin Vasilenko and Miloš Kazimír has entered bankruptcy proceedings, marking the latest collapse in a chain of firms with significant tax debts. The business duo previously controlled the Korida transport group, which despite generating millions in revenue also recorded million-euro losses before being merged into a waste management company controlled by front persons. That waste company subsequently accumulated tax debts exceeding 5.3 million euros before its demise. The pair had been flagged by the Stop Corruption Foundation, an anti-corruption watchdog, as early as 2019 for their business practices. The businessmen have now re-emerged publicly as controllers of an Ostrava-based company, continuing their pattern of corporate activities across multiple jurisdictions.

Dennik N
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Economy

Number of Banks in Slovakia Drops by One-Third Over Past 15 Years

The number of banks operating in Slovakia has declined by one-third over the past 15 years, according to new data. The reduction in the banking sector comes as Slovakia faces significant investment challenges that could impact the country's economic development. The consolidation of the banking industry reflects broader trends in the European financial sector, where smaller institutions have been absorbed by larger players or have exited the market due to increased regulatory requirements and competitive pressures. This development occurs at a time when Slovakia, a eurozone member since 2009, needs robust financial infrastructure to support economic growth and attract foreign investment.

SME
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Economy

Oil Reserves May Reach Critical Levels Before Summer Demand Peak

Slovakia faces potential fuel supply challenges as oil reserves could drop to critical levels ahead of the summer period when demand for fuels typically reaches its annual peak. The warning highlights concerns about energy security during the season when consumption traditionally surges due to increased transportation and industrial activity.

SME
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Economy

Slovak Government Proposes Business Deregulation Measures, Companies Want More

The Slovak government has announced plans to reduce bureaucratic burdens on businesses by streamlining paperwork requirements for waste management and workplace safety regulations. The deregulation initiative aims to make it easier for companies to operate in Slovakia by cutting administrative procedures. However, business representatives say the proposed measures do not go far enough, with entrepreneurs particularly critical that the government has not included plans to eliminate the transaction tax. The business community argues that removing this tax would provide more meaningful relief than the administrative simplifications currently being offered.

SME
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Economy

Slovakia to Introduce New Vehicle Insurance Rules in 2026

Slovakia will implement amendments to its motor vehicle insurance law in 2026, introducing new regulations and obligations for drivers and insurance providers. The changes to the mandatory third-party liability insurance system will establish updated rules governing vehicle coverage requirements. The modifications represent part of Slovakia's ongoing efforts to modernize its insurance framework and align with evolving automotive and insurance industry standards.

TASR/Teraz
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Economy

Slovakia's Tax, Audit and Accounting Firms Adapt as Market Demands Data-Driven Advisory Services

Slovakia's tax, audit and accounting sector is undergoing transformation as client expectations shift toward advisory services that convert data into strategic business decisions. The professional services market, traditionally focused on compliance and regulatory requirements, is adapting to meet growing demand for consultative approaches that help businesses leverage financial information for decision-making. This evolution reflects broader changes in how Slovak companies approach financial management and strategic planning in an increasingly data-driven business environment.

SME
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Economy

Slovak Government's Growth Measures to Save Businesses Only 11 Million Euros, Analyst Says

The Slovak government's newly announced pro-growth measures will save businesses only 11 million euros, according to analysts who criticized the package as insufficient and poorly timed. Trade unions and companies were given less than 24 hours to review the proposed measures before their announcement. Economic analysts described the government's approach as "too little, too late" in addressing the country's economic challenges. The rushed timeline for stakeholder consultation has drawn criticism from business representatives and labor organizations, who say they had inadequate time to provide meaningful input on the proposals.

SME
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Economy

Russian-owned Discount Store Chain Expands in Slovakia Despite Revenue Losses

Mere, a discount retail chain with Russian ownership ties, has generated hundreds of thousands of euros in revenue across its three Slovak stores while continuing expansion plans. The company is currently recruiting staff for further growth in Slovakia despite its foreign ownership structure. Mere operates as a low-cost discount retailer, positioning itself in the budget retail segment of the Slovak market.

Aktuality
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Economy

Senior Workers Double Their Share of Slovak Labor Market Over Past Decade

The percentage of working seniors in Slovakia has doubled from four percent to eight percent over the past ten years, as demographic changes reshape the country's labor market. Most workers over 60 are employed in real estate, administration, and healthcare sectors. Slovakia's labor market is undergoing significant transformation driven primarily by population aging, with increasing numbers of people choosing to remain in the workforce after reaching age 60. This trend reflects broader demographic pressures facing the Central European nation as its population ages and the traditional working-age population shrinks.

Dennik N
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