EconomyOther Economy

Sedgwick: US Firms Welcome End to Collective Agreement Extension

Bratislava, September 17 (TASR) - American companies welcome the Labour Ministry's decision to stop the process of extending the validity of collective agreements to a whole industry, American Ambassador to Slovakia Theodore Sedgwick said during talks with Labour Minister Jozef Mihal (Freedom and Solidarity/SaS). "On behalf of the U.S. Government, I'm thankful for changes… read more

Faymann Embraces Slovakia\'s New Approach to Information on Energy

Brussels, September 17 (TASR-correspondent) - Austrian Chancellor Werner Faymann has expressed his satisfaction with the Slovak Government's intention to engage in a closer exchange of information with Austria in the sphere of energy, TASR learnt following the European Union summit late on Thursday. Faymann's statement follows his meeting with Slovak Prime Minister Iveta… read more

Employers Worried About Big Rise in Local Taxes

Bratislava, September 16 (TASR) - The Association of Employers' Unions (AZZZ) is worried about a disproportionate increase in local taxes due to an amendment that is being prepared by the Government, AZZZ general secretary Oto Nevicky said on Thursday. "It's more than probable that the Government will be exerting pressure on municipal authorities to balance their budgets… read more

Kanellos: Slovakia Only Country to Have Refused Loan for Greece

Bratislava, September 16 (TASR) - The European Union countries should jointly proceed in approving a loan for Greece – meanwhile Slovakia is the only EU country to have said "no" to this aid, Greek Ambassador to Slovakia Nicolaos Kanellos told reporters on Thursday. "As for Greece, we adhere to European rules and wish that all members of the Union would follow the… read more

Radicova: Ways of Sanctioning Irresponsible EU Members Must Be Fair

Brussels, September 16 (TASR-correspondent) - Slovakia will only promote the creation of a fair method for sanctioning EU-member states that don't comply with the EU budget criteria, Slovak Prime Minister Iveta Radicova implied in Brussels on Thursday. Radicova was speaking after a working breakfast of Visegrad Four premiers (V4, of Slovakia, Hungary, Czech Republic and… read more

Slovaks Appreciate Euro More than Other Eurozone Members

Bratislava, September 15 (TASR) - Slovaks view the common European currency more positively than people in other eurozone countries, with 64 percent of Slovaks welcoming it compared to the eurozone average of 38 percent. The findings come from a recent 'Transatlantic Trends' survey carried out in 11 EU countries, the USA and Turkey in June involving 1,000 respondents… read more

Schmognerova: 20-percent VAT on Food Is European Rarity

Bratislava, September 15 (TASR) - Increasing the value-added tax from 19 to 20 percent doesn't have to bring as much money into the state coffers as it is expected by the new Government, former vice-president of the European Bank for Reconstruction and Development (EBRD) Brigita Schmognerova has told TASR in an interview. "It'll definitely effect consumption, which will… read more

Finmin: Consolidation Will Slow Down Economy, But It\'s Essential

Bratislava, September 14 (TASR) - The planned consolidation of public finances in 2011 will slow down growth in the Slovak economy, reads the latest macro-economic prognosis drawn up by the Finance Ministry. Despite an expected increase in European funds, economic growth in 2011 will be held back by 0.5 percentage points due to measures designed to reduce the state deficit.… read more

Figel: Rail Companies Overpriced Some Tenders by Over 600 percent

Bratislava, September 14 (TASR) - Some tenders at Slovakia's three railway companies - ZSSK, Cargo and ZSR - were overpriced by over 600 percent, Transport Minister Jan Figel (Christian Democrats/KDH) told a press conference on Tuesday. Figel went on to accuse his predecessor in the ministerial chair Lubomir Vazny (Smer-SD). "The political accountability is clear," he… read more

FinMin: Growth in Slovak Economy to Reach 4% in 2010 and 3.3% in 2011

Bratislava, September 14 (TASR) - The Finance Ministry reported on Tuesday that its estimate for growth in the Slovak economy this year has significantly increased - to 4 percent. In its June prognosis the ministry was expecting an increase of only 3.2 percent. Conversely, the estimate for next year has been lowered from 3.8 to 3.3 percent. "The main reasons behind… read more

State Tax Incomes 11.3-percent Lower Than Originally Expected

Bratislava, September 13 (TASR) - The state has collected 11.3-percent less in taxes than originally planned so far this year, according to data on state-budget incomes. Some €5.1 billion in taxes was collected in the period between January-August, but original estimates projected €647.70 million more than this. Income from tax inspection penalties, amounting… read more

Analysts Find Slower Level of Inflation in August Surprising

Bratislava, September 13 (TASR) - Analysts are surprised by the slower rise in consumer prices in Slovakia recorded in August. "Inflation in August was a small surprise for us, as we expected a mild increase in the growth of the prices of products and services," Postova Banka analyst Eva Sadovska told TASR on Monday. According to the Statistics Office, inflation in Slovakia… read more

Central Europe\'s TOP 500 Companies Features 29 Slovak Businesses

Bratislava, September 11 (TASR) - There are 29 Slovak businesses with last year's combined sales of €32 billion, which are included in the group of 500 largest firms in Central Europe, reveals the CE Top 500 rankings recently released by Deloitte company. Owing to their economic results the list includes more Slovak firms than in 2008, but none of them were able to… read more

Prime Minister Radicova Praises German Firms Expansion in Regions

Bratislava, September 10 (TASR) - Prime Minister Iveta Radicova praised the expansion of German firms into the regions beset with high unemployment in an address to the First German Slovak Economic Dialogue, which was organised to mark the 5th anniversary of Slovak-German Chamber of Commerce and Industry. "I highly value the new working culture in the regions, plus the… read more

Slovakia Exports €3.8 billion in July and Enjoying Surplus So Far in 2010

Bratislava, September 10 (TASR) - Slovak exports in July showed annual growth of 22.8 percent, to a total value of €3.8 billion, while imports were up 27.1 percent year-on-year to €3.9 billion, according to foreign trade data released by the Statistics Office on Friday. July's trade balance showed a deficit of €93.8 million. Seven-month sales figures abroad… read more