Dávka - Your daily dose of Slovak news
♥ Support DávkaNewsletter
Last refreshed: 09/06/2026 05:39 · 35 articles added
Stories are refreshed at 05:30, 10:30, 15:30, and 21:30 UTC.

Economy

View all1482 stories
Economy

Škoda Auto Reports Record-Breaking Financial Results for Previous Year

Czech automaker Škoda Auto achieved the best financial performance in its company history last year, with operating profit rising 8.6 percent to 2.5 billion euros. The results mark a significant milestone for the Volkswagen Group subsidiary, which has manufacturing operations in Slovakia and serves as a major employer in the Central European automotive sector. The strong performance reflects continued demand for Škoda vehicles and the company's successful positioning in the competitive European car market.

SME
|
Economy

Slovaks Reject Russian Oil and Fossil Fuels, Polls Show Need for Energy Transition Plan

Public opinion surveys indicate that Slovaks oppose both Russian oil imports and fossil fuel dependence more broadly, according to analysis by the Climate Coalition, an environmental advocacy group. Despite consistent public demand for moving away from oil and gas-based energy systems, no political party in Slovakia has presented a clear plan for transitioning the country's economy and energy sector away from fossil fuels. The disconnect between public opinion and political action highlights a gap in Slovakia's energy policy debate, as citizens express support for energy independence while politicians have yet to offer concrete alternatives to current fossil fuel reliance.

Aktuality
|
Economy

Slovak Plastic Recycling Startup Files for Debt Relief as European Market Collapses

Eco Verde Recycling Slovakia, a waste management startup that launched an innovative plastic recycling facility in Nitra, has filed for debt relief with courts after shutting down operations and laying off workers. The company had started production two years ago with high expectations, focusing on recycling harder packaging plastics that were previously not being processed in Slovakia. The facility's closure reflects broader challenges facing Europe's plastic recycling industry, as cheaper producers from Asia have captured the market for recycled plastic materials. European companies are struggling to compete while trying to process their own plastic waste efficiently, leading to a collapse in the continent's recycling sector despite growing environmental pressures to reduce plastic waste.

Dennik N
|
Economy

European plastic recycling industry collapses as innovative Slovak plant shuts down

A Slovak startup that launched an innovative recycling facility for hard plastic packaging in Nitra has shut down operations and filed for debt relief in court. Eco Verde Recycling Slovakia, which began operations two years ago to address gaps in plastic recycling, has laid off workers and suspended production at its plant. The company's financial troubles reflect broader challenges facing Europe's plastic recycling industry, which is struggling to compete with cheaper Asian producers and cannot efficiently process its own plastic waste. The collapse highlights Europe's inability to maintain a competitive recycling sector despite growing environmental regulations requiring increased use of recycled materials in packaging.

Dennik N
|
Economy

Europe Has No Quick Fix for High Energy Costs, Slovakia's Options Limited Under Fourth Fico Government

Europe lacks any miraculous or rapid solutions to address high energy costs, according to recent analysis. Slovakia faces even fewer options to tackle energy price pressures under Prime Minister Robert Fico's fourth government. The assessment highlights the broader challenge facing European nations as they grapple with elevated energy prices while having limited policy tools available for immediate relief. Slovakia's constrained position reflects both continental-wide limitations and domestic policy constraints that have reduced the government's flexibility in addressing energy affordability for consumers and businesses.

SME
|
Economy

Slovak Mortgage Rates May Rise Again Due to Middle East Conflict

Mortgage interest rates in Slovakia could increase from their current levels of around 3.2 percent due to the ongoing conflict in the Middle East, financial experts warned. The war has reopened the possibility of rising interest rates as oil prices threaten to drive up energy costs and inflation. If the oil crisis persists, central banks may be forced to tighten monetary policy to combat higher inflation, which would push mortgage rates above current levels. Slovakia's mortgage market has been sensitive to European Central Bank policy changes, as the country uses the euro and follows ECB interest rate decisions. The potential rate increases would affect both new homebuyers and existing mortgage holders awaiting refinancing, adding uncertainty to Slovakia's housing market after a period of relatively stable borrowing costs.

Dennik N
|
Economy

Electric Car Prices Expected to Match Traditional Vehicles Within Years, Slovak Expert Says

Electric vehicle prices will reach parity with traditional combustion engine cars within the next few years, according to Patrik Križanský, director of the Slovak Association for Electromobility. In an interview, Križanský highlighted the competitive advantage of Chinese automakers, who can bring a new car from drawing board to showroom in approximately two years, compared to more than four years for traditional European manufacturers. The expert explained China's dominance in the electric vehicle market and discussed how Europe might compete in this rapidly evolving sector. Slovakia, like other European Union countries, is working to transition its automotive industry toward electric vehicles as part of broader climate goals, with the timeline for price parity representing a crucial milestone for mass adoption of electric cars.

Dennik N
|
Economy

Slovak Banking Association calls for reduced EU regulations and increased investment

The Slovak Banking Association (SBA) stated that Europe needs fewer regulations and more investments to boost economic growth. The SBA serves as the sole organization representing the interests of banks operating in Slovakia, giving its position significant weight in the country's financial sector policy discussions. The call reflects broader concerns within the European banking industry about regulatory burdens potentially hindering economic development and competitiveness.

TASR/Teraz
|
Economy

Slovaks Cut Back on Beer Purchases as Market Leader Reports 2% Sales Drop

Slovakia's largest brewery, Plzeňský Prazdroj Slovensko, reported a 2% decline in sales following a record year, as consumers reduced spending on beer and radlers amid economic pressures. The company attributed the drop to cooler summer weather and the impact of higher taxes and levies on alcoholic beverages. Sales fell particularly sharply for premium draft beer served in restaurants and bars, as well as for radlers, which faced additional costs from a new tax on sweetened beverages. Despite the overall decline, the brewery noted some positive trends, including increased sales of bitter beers and a growing number of seasonal beer taps across the country. Plzeňský Prazdroj Slovensko, part of the international Pilsner Urquell group, dominates Slovakia's beer market and its performance reflects broader consumer spending patterns in the country.

Dennik N
|
Economy

Ten Slovak Hotels Listed for Sale with Highest Prices in Western Regions

Ten hotels across Slovakia are currently on the market, with asking prices reaching into the millions of euros. The most expensive properties are located in the western regions of the country, reflecting the higher real estate values and tourism demand in areas closer to Bratislava and the Austrian border. The hotel sales indicate activity in Slovakia's hospitality real estate market, though specific details about individual properties and exact asking prices were not disclosed.

SME
|
Economy

Slovclean Denies Political Connections in Ministry Services on Eastern Slovakia

Cleaning company Slovclean has rejected allegations of political connections related to its services provided to government ministries in eastern Slovakia. The controversy comes as the company has laid off 146 employees. Slovclean, which provides cleaning and maintenance services to various government facilities, faces scrutiny over how it secures public sector contracts in the eastern regions of the country. The dismissals represent a significant reduction in the company's workforce amid questions about its business relationships with state institutions.

Korzár
|
Economy

Slovak Beer Sales Drop for Plzen Brewery Amid Weather and Economic Pressures

Slovakia's largest beer producer, Plzeňský Prazdroj Slovensko, reported declining beer sales last year as consumers tightened their spending amid economic pressures. The company's commercial director cited unstable weather during the crucial summer season as an additional factor that dampened demand. Plzeňský Prazdroj Slovensko, the local subsidiary of the Czech brewing giant that produces popular brands including Pilsner Urquell, saw Slovaks reduce their beer consumption as household budgets came under strain from rising costs of living.

TASR/Teraz
|
Economy

Germany Records Highest Fuel Price Increases in EU Since Start of Ukraine War

Germany has experienced the steepest rise in fuel prices across the European Union since the beginning of the war in Ukraine. Diesel prices at German gas stations, excluding taxes and fees, have surged 44 percent compared to levels recorded the week before the conflict began. The dramatic price increases highlight structural problems in Germany's fuel market that the country must address. The price surge reflects broader energy market disruptions caused by the ongoing war and its impact on global supply chains.

SMETASR/Teraz
|
Economy

BMW Group Reports Net Profit of Nearly 7.5 Billion Euros Despite Decline

BMW Group reported a net profit of nearly 7.5 billion euros for the previous year, representing a decline from the prior period. Despite the drop in earnings, the German automaker's results exceeded analyst expectations. The automotive giant, which operates manufacturing facilities in several countries including Slovakia, delivered financial performance that surpassed market forecasts even as profits decreased year-over-year.

SME
|
Economy

Slovakia's Accommodation Sector Leads January Employment Growth

Slovakia's accommodation sector recorded the strongest employment growth in January, while the wholesale trade industry experienced the largest decline in jobs. The data reflects shifting employment patterns across different sectors of the Slovak economy at the start of 2024, with the hospitality industry showing resilience despite seasonal factors typically affecting accommodation services during winter months.

SME
|
Economy

Average Wages Rise Across Most Sectors in January

Average wages increased year-on-year across the majority of economic sectors in Slovakia during January. Six sectors recorded real wage growth, indicating that salary increases outpaced inflation in those areas. The wage growth comes amid ongoing economic challenges in the Central European nation of 5.4 million, where inflation and cost-of-living concerns have been significant issues for households and policymakers.

SME
|
Economy

Slovak Industrial Revenue Falls One Percent in January After December Growth

Slovakia's industrial sector recorded a one percent year-on-year decline in revenue during January, marking a reversal from the modest growth registered in December. The downturn follows a brief recovery period and reflects ongoing challenges facing the country's manufacturing base, which remains a key pillar of Slovakia's export-oriented economy. Industrial production is closely watched as an indicator of broader economic health in Slovakia, where manufacturing accounts for a significant portion of GDP and employment.

SME
|
Economy

Slovak Employment Growth Concentrated in Services Sector as Industry Declines

Employment in Slovakia showed uneven growth patterns in January 2025, with the accommodation sector emerging as the biggest winner in the labor market. Statistical data revealed sharp increases in both employment and wages in parts of the services sector, while industrial employment continued to decline. The wholesale trade sector also experienced job losses, highlighting a broader shift in Slovakia's economic structure away from traditional manufacturing toward service-oriented industries. This trend reflects changing economic dynamics in the Central European nation, where services are increasingly driving job creation while industrial sectors face headwinds.

Aktuality
|
Economy

Slovak Government Discusses Fuel Prices Amid Middle East Conflict

Slovak Prime Minister Robert Fico said the government currently sees no reason to intervene in fuel prices, despite holding a meeting on the issue that included Slovnaft CEO Gabriel Szabó and was supported by President Peter Pellegrini. The government announced it would leave price regulation decisions for the next five days unchanged. The meeting came as Fico has previously expressed concerns about Russian oil supplies, though he maintained that direct price intervention is not warranted at this time. The government's focus on fuel pricing has drawn attention given Fico's stated position that Slovakia lacks sufficient reason to convene its security council over the ongoing Middle East conflict.

Dennik N
|