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Last refreshed: 06/06/2026 10:36 · 51 articles added
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Economy

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Economy

Fact-check reveals mixed picture behind Slovak PM's economic claims

Slovak Prime Minister Robert Fico has defended his government's economic performance by citing favorable labor market data, construction sector growth, and low energy prices for households, though fact-checkers have identified problematic aspects of his claims. The prime minister from the ruling social-democratic party Smer highlighted strong employment figures and rapid growth in construction production, though analysts question whether the construction sector can maintain its current pace. Fico also pointed to low household energy prices as evidence of economic success, but these subsidized rates are costing the state budget billions of euros. The fact-checking exercise reflects ongoing political debate over Slovakia's economic trajectory, with Fico attempting to counter what he describes as negative media portrayals of the country's economic development.

Dennik N
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Economy

IMF Reduces Growth Forecast for French Economy

The International Monetary Fund has lowered its growth projection for France's economy, now expecting it to expand by just 0.7 percent in 2026. The revised forecast reflects reduced expectations for economic performance in one of the eurozone's largest economies. France, as a major European Union member and Slovakia's key trading partner within the bloc, plays an important role in regional economic stability and cross-border trade relationships.

TASR/Teraz
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Economy

East Slovakia Water Company Issues New Bonds to Public Investors Amid Privatization Concerns

The East Slovak Water Company is issuing new bonds open to ordinary investors, following an earlier controversial bond issue that Slovakia's Supreme Audit Office criticized as a potential attempt at hidden privatization. The water utility, which serves eastern Slovakia, previously issued bonds restricted to municipal shareholders, but has now expanded the offering to general investors. Questions remain about the company's ability to execute its diverse investment plans under the leadership of Daniel Krátký, a former bankruptcy lawyer who now heads the firm. The Supreme Audit Office had flagged the initial bond issuance as potentially circumventing proper privatization procedures, raising concerns about the transparency of the company's financial restructuring.

Dennik N
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Economy

Slovakia's Tax Authority Says Electronic Invoicing Will Become Global Standard

Slovakia's financial administration has stated that electronic invoicing will eventually become a worldwide standard, extending beyond just the European Union. The tax authority indicated that electronic invoice formats will be standardized across all EU member states. The move toward electronic invoicing represents part of broader digital transformation efforts in government and business operations, aimed at reducing paperwork, improving efficiency, and enhancing tax collection processes.

SME
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Economy

Eurozone Current Account Surplus Falls Sharply in March

The eurozone's current account surplus declined significantly in March, driven by developments in goods trade. The current account, which measures the flow of goods, services, and investments between the eurozone and the rest of the world, saw its surplus contract as trade patterns shifted during the month.

SME
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Economy

Iran Conflict Alters EU Economic Growth Forecast

The European Union has revised its economic growth projections due to the ongoing conflict in Iran. Higher energy prices resulting from the Middle Eastern tensions are reducing profit margins across multiple industry sectors throughout the EU. The conflict's impact on global energy markets has created uncertainty for European businesses and economic planners, forcing adjustments to previously optimistic growth estimates.

SME
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Economy

Kaufland Leads Slovak Retailers in Offering Domestic Food Products

German retail chain Kaufland has emerged as the leader among Slovak supermarket chains in stocking domestically produced food products. The company maintains the highest proportion of Slovak-made items on its shelves compared to other major retailers operating in the country. This development reflects ongoing efforts by retail chains to support local food producers and meet consumer demand for domestic products in Slovakia's competitive grocery market.

TASR/Teraz
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Economy

European Commission warns Slovakia's economic growth is stagnating

The European Commission warned that Slovakia's economic growth has stagnated, projecting that real GDP growth will remain modest at just 0.8 percent in 2026. The Commission attributed the economic stagnation to uncertainty and fiscal consolidation measures affecting the country. Slovakia, a eurozone member and EU country in Central Europe, has been grappling with economic challenges that are now expected to persist through the mid-decade, raising concerns about the country's economic trajectory and competitiveness within the European Union.

SMETASR/Teraz
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Economy

Slovak Furniture Manufacturer Decodom Files for Bankruptcy After 30 Years

Decodom, a furniture manufacturer from Topoľčany in western Slovakia, has filed for bankruptcy after three decades of operation. The company survived both the COVID-19 pandemic and the energy crisis that severely impacted Slovak manufacturing, but ultimately succumbed to a combination of declining demand, high operating costs, and inability to secure new investment. The closure marks the end of what had become a local industrial landmark in the Nitra region, where Topoľčany is located. Slovakia's manufacturing sector has faced significant pressure in recent years due to rising energy costs following the war in Ukraine and reduced demand from key export markets in the European Union.

Aktuality
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Economy

Slovak Tax Authority Uncovers 66 Million Euros in Violations During Corporate Audits

The Slovak Financial Administration discovered tax violations worth 66 million euros through the end of April during audits of larger companies. The tax authority, which oversees tax collection and compliance in Slovakia, reported significant findings in the area of transfer pricing, a method multinational companies use to set prices for transactions between their subsidiaries. These audits are part of the administration's efforts to ensure proper tax compliance among major corporate taxpayers and prevent tax avoidance schemes that can cost the state budget substantial revenue.

SME
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Economy

Eurozone Private Sector Activity Falls Sharply in May

Private sector activity in the eurozone dropped significantly in May, reflecting mounting economic pressures from ongoing conflicts in the Middle East. The decline signals growing concerns about the broader economic impact of regional instability on European markets. The sharp downturn highlights how geopolitical tensions beyond Europe's borders are increasingly affecting the continent's economic performance, as businesses and investors respond to uncertainty stemming from Middle Eastern conflicts.

SME
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Economy

Slovak packaging firm Grafobal struggles with production losses despite improved overall results

Grafobal Skalica, the key company in businessman Ivan Kmotrík's portfolio, has been running production operations at a loss for two years despite improved overall financial performance in 2023. The packaging manufacturer, which generates annual revenues of around 60 million euros, has been affected by declining consumption and remains profitable only through dividends from its foreign subsidiaries. The company does not expect a turnaround in production profitability this year, though it maintains financial stability with reserves built up during more successful periods. Grafobal represents the most important asset of Kmotrík, one of Slovakia's prominent large-scale entrepreneurs, making its operational challenges significant for his broader business empire.

Dennik N
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Economy

Pension forecast data lacks meaning for every individual, says head of pension fund association

The head of Slovakia's Association of Supplementary Pension Companies (DSS) has criticized the usefulness of pension forecasts, arguing that the expected pension amount is not the most important data for individuals. The official stated that other information is far more significant than the projected pension sum when planning for retirement. The criticism comes amid ongoing discussions about pension system transparency and reform in Slovakia, where citizens receive periodic forecasts about their expected retirement benefits from both the state pension system and supplementary pension funds.

SME
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Economy

Slovak Households Face Financial Risk from Over-Investment in Housing

Slovak households are heavily concentrated in real estate investments, viewing homeownership as their primary financial security, according to financial analysis. The practice of tying up most family wealth in housing while maintaining minimal liquid savings has created a widespread financial vulnerability pattern across the country. This investment approach reflects a cultural preference for property ownership, embodied in the saying "my house, my castle," but leaves many families with limited financial flexibility despite appearing wealthy through their real estate holdings.

Aktuality
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Economy

Alternative Housing Financing Model Expands in Bratislava's Bory District

A new cooperative housing financing model is gaining traction in Slovakia as traditional mortgage lending becomes increasingly difficult for many residents. Penta Real Estate has launched the "Bory Družstevné Bývanie" (Bory Cooperative Housing) product as part of its Bory Bývanie development project in Bratislava's Bory district. The cooperative model offers an alternative path to homeownership for those who cannot access conventional mortgage financing. The development represents a growing trend toward innovative housing finance solutions as property prices and lending requirements make traditional home purchases more challenging for ordinary Slovaks.

Aktuality
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Economy

Proxenta Group Founder Faces Potential Empire Collapse Amid Serious Complications

Kožík, the founder of the Proxenta business group, is confronting severe complications that threaten the survival of his corporate empire. The entrepreneur, who once dreamed of becoming a millionaire, now finds himself in a high-stakes situation where his entire business network could potentially disintegrate. The Proxenta Group, which Kožík built from the ground up, is facing serious challenges that require immediate resolution to prevent a complete collapse of the organization.

SME
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Economy

China Remains Germany's Largest Trading Partner, US Takes Second Place

China has maintained its position as Germany's largest trading partner, with the United States finishing in second place in bilateral trade volumes. The ranking reflects the continued economic relationship between Germany and China despite ongoing geopolitical tensions and efforts by some Western nations to reduce economic dependence on Beijing. Germany, as Europe's largest economy and a major industrial power, conducts significant trade with both nations across various sectors including automotive, machinery, and technology.

SME
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Economy

Israeli airline El Al reports financial losses amid revenue decline

Israeli flag carrier El Al has fallen into losses following a significant decline in business performance. The airline's revenues dropped by more than a quarter, contributing to the company's shift from profitability to operating at a loss. El Al, Israel's national airline, has been impacted by the substantial revenue decline that has undermined its financial stability.

SME
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Economy

Gold prices recover after falling to two-month low

Gold prices rebounded after previously dropping to their lowest level in two months. The precious metal found support from declining oil prices and falling yields on government bonds, which typically make non-yielding assets like gold more attractive to investors.

SME
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Economy

Heating Bills Reach Hundreds of Euros Despite Conservation Efforts Due to Regulatory Changes

Slovak households are facing heating bills in the hundreds of euros even when they reduce their heating consumption, according to new reports. The high costs are attributed to changes in government regulations governing heating charges. The regulatory modifications have resulted in unexpected financial burdens for residents who assumed that conserving energy would lead to proportionally lower bills, but the new rules appear to have altered how heating costs are calculated and distributed among consumers.

SME
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