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Last refreshed: 06/06/2026 05:37 · 25 articles added
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Economy

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Economy

Slovakia Introduces Electronic Invoicing System to Benefit State and Businesses

Slovakia is implementing an electronic invoicing system that government officials say will benefit both the state and private businesses. Finance Minister Ladislav Kamenický stated that the introduction of e-invoicing will eventually lead to the abolition of the VAT control statement, a reporting requirement that businesses currently must file. The electronic system is designed to streamline tax administration and reduce bureaucratic burden on companies while improving tax collection efficiency for the state.

SME
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Economy

Czech Energy Regulator to Limit Blocking of Unused Electricity in Networks

The Czech energy regulator will introduce restrictions on blocking unused electricity in transmission networks. The measure aims to reduce pressure on rising regulated payments that consumers pay as part of their energy bills. The regulatory change addresses efficiency issues in electricity distribution where unused capacity has been blocked from the grid, contributing to higher costs for end users.

SME
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Economy

Japanese Owner Unveils Decarbonization Plan for Košice Steel Plant with Single Electric Arc Furnace

Nippon Steel, the Japanese owner of Košice steel works, has announced plans to install one new electric arc furnace to replace part of the facility's coal-based production, marking a shift from the previous American owner's more ambitious replacement strategy. The single new furnace will be capable of producing up to 47 percent of the plant's current steel output, while requiring an investment of hundreds of millions of euros. The project aims to reduce carbon dioxide emissions by 56 percent and nitrogen oxide emissions by 25 percent compared to current operations. The decarbonization initiative represents a more measured approach than the previous plan by former American owner U.S. Steel, which had proposed replacing two of the plant's three blast furnaces with electric alternatives. The Košice steel works is one of Slovakia's largest industrial facilities and a major employer in the eastern region, making its environmental modernization significant for both local economic stability and the country's climate commitments.

Dennik N
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Economy

Five Key Factors for Choosing New Housing Beyond Attractive Visualizations

Real estate experts emphasize that purchasing an apartment requires careful consideration beyond impressive marketing materials. Apartment buying ranks among major life decisions that should never be made impulsively, requiring thorough evaluation of multiple factors that extend far beyond aesthetic appeal and promotional visualizations used by developers to attract potential buyers.

Aktuality
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Economy

ECB Official Warns Against Sharp Monetary Tightening Despite Rising Energy Costs

European Central Bank Governing Council member Jannis Stournaras warned against abrupt monetary policy tightening in the eurozone, advocating for cautious measures even as inflation significantly exceeds the ECB's target. Stournaras highlighted concerns about expensive oil and gas prices affecting the economic outlook. The ECB, which sets monetary policy for the 19 countries using the euro including Slovakia, typically aims to keep inflation around 2 percent through interest rate adjustments and other policy tools.

Aktuality
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Economy

Slovakia's Government Economic Package Largely Ignores OECD Reform Recommendations

Slovakia's government is preparing a limited economic growth package that largely disregards comprehensive reform recommendations from the Organisation for Economic Co-operation and Development. The OECD has advised Slovakia to undertake extensive reforms across labor markets, healthcare, education, and public finances to boost economic performance. However, the fourth government of Robert Fico, which returned to power in 2023 as head of a coalition including the social-democratic Smer-SD party, is instead focusing on restricted administrative changes while avoiding measures that would have significant budgetary impacts. The government's proposed economic support measures only partially overlap with OECD recommendations and in several areas take completely different approaches. This divergence highlights the government's reluctance to implement structural reforms that international economic experts consider necessary for Slovakia's long-term economic development, potentially limiting the country's growth potential and competitiveness within the European Union.

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Economy

Slovakia's Nuclear Regulator Approves Startup of Mochovce 4 Reactor

Slovakia's nuclear regulatory authority has granted permission to begin operating the fourth reactor at the Mochovce nuclear power plant, marking a significant milestone for the long-delayed project. The Nuclear Regulatory Authority issued the startup permit on Friday, though the reactor will need several more months to reach full operational capacity. The Mochovce expansion project has faced years of delays due to technical problems, appeals, and investigations into overpriced contracts. The completion of the fourth reactor represents a major step forward for Slovakia's nuclear energy program, as the facility will significantly boost the country's electricity generation capacity. The startup of the fourth block could enable the Slovak state to gain a majority stake in Slovenské elektrárne, the state-owned electricity company that operates the country's nuclear facilities. This development comes as European countries reassess their energy strategies amid concerns about energy security and the transition away from fossil fuels.

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Economy

Slovakia Debates Fair Competition in Energy Market as Battery Storage Faces Market Restrictions

Slovakia is grappling with a dispute over how to create fair competition in its energy market, with standalone battery storage systems effectively cut off from significant portions of the market. The country faces challenges in efficiently integrating new energy technologies into its power system, as technical discussions about optimal technology deployment have been overshadowed by market access restrictions. The debate highlights broader questions about energy market design as Slovakia seeks to modernize its electricity infrastructure while ensuring fair competition among different energy technologies.

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Economy

Beauty Contest Organizer Tops Ružomberok Tax Delinquent List Dominated by Small Business Owners

A beauty contest organizer leads the list of tax delinquents in Ružomberok, a city in northern Slovakia, according to local tax authorities. The list is primarily composed of small business owners and sole traders who have failed to pay their municipal taxes. Ružomberok, located in the Žilina region with a population of approximately 27,000, publishes such lists as part of efforts to collect outstanding tax debts and encourage compliance with local tax obligations.

SME
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Economy

Pepco Group Reports Strong Half-Year Results with Significant Profit and Revenue Growth

Pepco Group announced preliminary results for the six-month period showing substantial increases in both profit and shareholder returns. The European discount retailer attributed the strong performance to successful implementation of its business strategy. The company, which operates discount retail chains across Europe including the Pepco, Poundland, and Dealz brands, demonstrated improved financial metrics during the reporting period.

TASR/Teraz
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Economy

Hungarian Oil Group MOL Reports No Issues with Aviation Fuel Supplies

Hungarian energy company MOL has stated it is experiencing no problems with aviation fuel deliveries and expects no disruptions to its supply chains. The company, which operates across Central and Eastern Europe including Slovakia, described its supply chains as stable with no anticipated interruptions to fuel distribution.

SME
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Economy

Car Sales Drop in Slovakia as Vehicle Fleet Remains Among Europe's Oldest

Car purchases in Slovakia declined during the first quarter of the year, according to new data. The statistics reveal that older vehicles continue to dominate the market, with Slovakia maintaining one of Europe's oldest vehicle fleets. The data underscores ongoing challenges in modernizing the country's automotive sector, as consumers appear to be favoring used cars over newer models. Slovakia's aging vehicle park reflects broader economic patterns affecting consumer purchasing power and preferences in the automotive market.

SME
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Economy

Slovakia's Labor Costs Match Sweden While Wages Trail Romania

Slovakia's labor costs have reached levels comparable to Sweden, yet workers earn less than their counterparts in Romania, highlighting a growing economic disparity. The Fico government has been increasing tax collection and social contributions, driving up the total cost of employment while wages remain relatively low. This development underscores Slovakia's challenging position in the European economy, where high labor costs are not translating into proportionally higher take-home pay for workers, potentially affecting the country's competitiveness and living standards.

SME
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Economy

Train drivers challenge Transport Ministry's half-million euro body camera purchase plan

Train drivers have questioned the Transport Ministry's plan to purchase 430 body cameras for more than half a million euros. The locomotive operators are demanding detailed cost calculations and explanations from the ministry regarding the expenses for the camera procurement project. The drivers appear to be challenging both the scale and cost-effectiveness of the proposed body camera system, which would represent a significant investment in monitoring equipment for railway operations.

Aktuality
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Economy

European Stocks Hit Two-Month Highs on Iran-US Peace Optimism

European stock markets reached their highest levels in more than two months on Monday, driven by investor optimism about potential diplomatic progress between Iran and the United States. Market sentiment improved on hopes that the two countries could reach an agreement to end their ongoing conflict, which helped ease concerns about inflation and global economic slowdown.

SMETASR/Teraz
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Economy

Camera System for Gabčíkovo Dam Allegedly Overpriced by 370,000 Euros

A camera system installed at the Gabčíkovo hydroelectric dam was allegedly overpriced, with potential financial damage estimated at approximately 370,000 euros. The Gabčíkovo dam, located on the Danube River near the Hungarian border, is one of Slovakia's most important energy infrastructure facilities and a key component of the country's electrical grid. The allegations suggest procurement irregularities in the installation of the security monitoring system at the strategic facility.

SME
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Economy

Airbus Delays Aircraft Deliveries to Australian Airline Qantas

European aerospace manufacturer Airbus has postponed aircraft deliveries to Australian carrier Qantas due to ongoing supply chain disruptions. The delay affects the airline's fleet expansion plans as Airbus continues to struggle with supply chain issues that have impacted aircraft production schedules across the industry. The postponement represents the latest challenge for airlines seeking to rebuild their fleets following the COVID-19 pandemic's impact on aviation demand.

SME
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Economy

Major Financial Conference to Bring Together Capital Market Leaders in Pezinok

More than twenty prominent speakers will gather at the Capital Market 2026 conference on June 18, 2026, at Šimák Castle in Pezinok, a town near Bratislava. The event will bring together key figures who actively shape Slovakia's and Central Europe's financial markets rather than simply commenting on them. The conference organizers have highlighted these industry leaders as personalities whose perspectives will be particularly valuable to follow in the current year, suggesting the gathering will focus on influential decision-makers and market movers in the regional financial sector.

Aktuality
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Economy

Slovak Toothpaste Maker Launches Limited Edition Product with Travel Influencer Milan Bez Mapy

Slovak toothpaste manufacturer biela perla® has released a limited edition matcha-flavored toothpaste developed in collaboration with travel influencer Milan Bez Mapy. The special product is inspired by travel themes and aims to bring freshness to daily dental care routines. The collaboration represents a marketing partnership between the domestic oral care brand and one of Slovakia's popular travel content creators.

Aktuality
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Economy

Volvo Plant in Košice Starts Operations as Planned, Production Testing to Begin After Summer

The Volvo manufacturing facility in Košice has commenced operations according to its planned schedule. The Swedish automotive company's plant in Slovakia's second-largest city will begin testing production processes following the summer period. Košice, located in eastern Slovakia, has become an important industrial center, attracting major international manufacturers. The establishment of the Volvo plant represents a significant investment in the region's automotive sector, which forms a crucial part of Slovakia's economy alongside other major car manufacturers already operating in the country.

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