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PAS: Business Conditions in Slovakia Deteriorated Again in 4Q09
Thursday 18 February 2010 Zoom in | Print page
Bratislava, February 18 (TASR) - Business conditions in Slovakia worsened again in the final quarter of 2009, with the Business Environment Index (IPP), falling by 3.91 percent to below the 100-point mark for the first time - to 97.4 points, said Robert Kicina, managing director of the Slovak Business Alliance (PAS), which carries out the survey, at a press conference on Thursday.
"The registered deterioration in the business environment is a reflection of the negative influence of the crisis on doing business, as well as a lack of action by the Government to counter the crisis and barriers to business," said Kicina.
The category of 'law enforcement and the effectiveness of the judiciary' saw the biggest fall in the reported period, dropping by 11.86 points to 28.9. "The judiciary is from the long-term perspective the sphere that is criticised most by businessmen," noted Kicina.
The second-biggest drop was seen in the category of 'the efficiency of state management and business access to state power'. This indicator fell by 11.43 points to 37.2 in the final quarter of 2009. PAS points out that the Government has failed to reduce the expenditures of its ministries, while the state debt is rising considerably. This has led to a deterioration in Slovakia's credibility and threatens the sustainability of public finances.
Other phenomena criticised by businessmen belonging to PAS are the ineffectiveness of the political system, including the negative impact of the Government's regulatory steps, unexpected new legal amendments, growing corruption in public offices, court delays, and violations of the principle of equality before the law.
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