EconomyOther Economy

Slovak Stand at EXPO Shanghai 2010 Registers Million Visitors

Bratislava, June 17 (TASR) - Slovakia's pavilion at the 2010 World Exposition in Shanghai recorded its one millionth visitor on Thursday after less than two months in place. "Such high attendance is proof that Slovakia has things to show off and be proud of in the world," said Ivan Magatova, chief of the Slovak pavilion. "I am longing to see Slovakia first hand… read more

Coalition-to-be: System of Investment Stimuli Should Be Re-evaluated

Bratislava, June 17 (TASR) - The system of investment stimuli and state aid for domestic and foreign investors should be re-assessed or completely scrapped, TASR was told by representatives of the parties of the emerging centre-right coalition on Thursday. "The role of investment stimuli should be reduced. We should focus more on improving the entrepreneurial environment,… read more

Businesses Expect New Cabinet to Make Labour Market More Flexible

Bratislava, June 17 (TASR) - One of the key issues that are decisive for the competitiveness of the Slovak economy is the labour market and its flexibility, head of the Association of Slovak Entrepreneurs (ZPS) Jan Oravec told TASR on Thursday. Unfortunately, it needs to be said that Slovakia in the past few years has seen the adoption of measures that have made the country's… read more

AmCham Has New Chief; Previous Head Now In Charge of SARIO

Bratislava, June 17 (TASR) - The American Chamber of Commerce (AmCham) has a new president, with Michael Smyth, general manager of DELL's European business centre Bratislava, taking over the post after previous chief Robert Simoncic was tasked with running the Slovak Trade and Investment Development Agency (SARIO) as of June 1, Julia Hurna of Amcham told TASR on Thursday.… read more

SFRB Resources for Heat-insulation Programe Dry Up

Bratislava, June 16 (TASR) - The State Housing Development Fund (SFRB) said on Wednesday that it has spent all of the €71 million allocated to the heat-insulation subsidy programme last year, and, as it hasn't received any new government funds, dozens of subsidy applications filed this year have been turned down. Last year saw close to 15,000 apartments and a handful… read more

Analysts: Inflation in May Confirms Price Stability in Slovakia

Bratislava, June 16 (TASR) - The rate of EU-harmonised inflation in Slovakia in May (0.7 percent year-on-year) confirms price stability in Slovakia and signalises that there are no pressures for price increases, analysts told TASR on Wednesday. The Statistics Office earlier in the day announced that inflation in Slovakia measured by EU methodology stood at 0.7 percent… read more

Analysis on How to Get €15 mn for Emissions to Arrive in a Few Days

Bratislava, June 15 (TASR) - Environment Minister Jozef Medved told TASR on Tuesday that the ministry is expecting a legal analysis later this week on how to proceed to get €15 million from the controversial deal between the state and a U.S.-based company called Interblue Group involving the sale of emission quotas back in 2008. "Assuming that there were flaws, or that… read more

NBS: Slovak Economy Will Grow by 3.7 percent in 2010 (UPDATE)

Bratislava, June 15 (TASR) - The Slovak central bank's (NBS) optimism vis-a-vis economic recovery in Slovakia this year has risen, with NBS in its medium-term prognosis presented on Tuesday predicting economic growth of 3.7 percent, up from the 3.2 percent expected three months ago. According to NBS, the economy should strengthen thanks to improvements in foreign demand.… read more

NBS: Slovak Economy Will Grow by 3.7 percent in 2010

Investors to New Parliament: Talk to Us

Bratislava, June 14 (TASR) - An informal association called Foreign Trade Chambers, comprising companies from eight countries, is calling on newly-elected parliamentary parties and the next Slovak Government to get engaged in an open and constructive dialogue with the business sphere in Slovakia, TASR was told by spokesperson of the American Trade Chamber Julia Hurna on Monday.… read more

Despite Projections State Insurer SP Ended 2009 Deep in the Red

Bratislava, June 14 (TASR) - State-run insurer Socialna Poistovna (SP) ended 2009 with a budget deficit of €320.82 million, while a surplus of €78.62 million was originally predicted. This is according to a proposal of the report on public administration's financial management in 2009 as released by the Finance Ministry on Monday. Less-than-projected collection of… read more

FinMin: Slovak Economy This Year to Grow Faster than Expected

Bratislava, June 14 (TASR) - Slovakia's economy will grow faster this and next year than expected in a prognosis actually published by the Finance Ministry in February but updated on Thursday. The ministry estimates this year's growth to reach 3.2 percent - and not 2.8 percent as had been estimated earlier. The current estimate for 2011 is 3.8 percent. "It's more… read more

Slovakia\'s Planned Loan to Greece Up in Air After Election

Bratislava, June 14 (TASR) - Whether Slovakia will provide financial assistance to debt-ridden Greece is not clear following the country's general election. Four centre-right parties that have attained a parliamentary majority and stand a good chance of forming a Government are either blatantly against the loan or question whether the conditions of the loan are favourable to… read more

FinMin: Public Debt Up to Nearly 36 Percent of GDP Last Year

Bratislava, June 14 (TASR) - Slovakia's public debt reached €22.58 billion last year, which represents 35.7 percent of GDP, up 8.1 percentage points on the year, according to a report published by the Finance Ministry. It's the global economic recession that stands behind the higher figures, says the ministry. The public debt is by 21.5 percent higher, while the economy… read more

NBS: Amount of Greek Bonds Bought by Slovak Banks Rose in 1Q10

Bratislava, June 14 (TASR) - The amount of Greek bonds bought by certain Slovak banks rose considerably in the first quarter of 2010, with their value reaching about 1.1 percent of the assets of the banking sector at the end of March, reads an analysis released by the Slovak central bank (NBS). NBS points out that Greece's state bonds were exposed to their biggest drop… read more