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Last refreshed: 28/07/2026 05:39 · 38 articles added
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Economy

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Economy

Youth Council: Young Unemployed Cost Slovakia Millions Annually

Slovakia loses millions of euros annually due to youth unemployment, according to the Youth Council of Slovakia. The organization's representative Lizák stated that investing in youth support programs represents an essential economic measure for the country. The council's assessment highlights the significant financial burden that unemployed young people place on Slovakia's economy, suggesting that proactive investment in youth employment initiatives would provide economic benefits that outweigh the costs.

TASR/Teraz
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Economy

Development Directors Earn Highest Salaries in Slovakia, Survey Shows

Development Directors hold the highest-paid positions in Slovakia, earning thousands of euros monthly according to a new salary survey. The survey revealed significant wage disparities across different professions in the country, with development and management roles commanding premium compensation packages. Slovakia's labor market continues to show wide variations in earnings, reflecting the country's economic structure and demand for specialized skills in certain sectors.

Bratislavak
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Economy

Slovak Railways launches 80-million-euro tender for electricity supply

Slovak Railways (ŽSR) has launched a procurement process for traction electricity supply for next year, valued at over 80 million euros. The tender involves purchasing electricity capacity evenly distributed across all applicable months and quarter-hour periods throughout the calendar year. Companies have until July 9 to submit their bids for the contract. The procurement represents a significant operational cost for the state-owned railway operator, which requires substantial electrical power to operate its train services across Slovakia's electrified rail network.

SMETASR/Teraz
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Economy

GreenPharm to Build 14-Million-Euro Factory Near Košice with State Support

Pharmaceutical company GreenPharm will construct a new manufacturing facility near Košice with an investment of 14 million euros and financial assistance from the Slovak government. The project is expected to create dozens of new jobs in the eastern Slovak region. The development represents a significant investment in the pharmaceutical sector in Slovakia's second-largest city, which serves as an economic hub for the eastern part of the country.

Korzár
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Economy

Thousands of Slovak Employees Suddenly Become Millionaires, Financial Advisors See Opportunity

Thousands of ordinary Slovak employees have unexpectedly found themselves with millionaire status, creating uncertainty about how to manage their newfound wealth. The sudden financial windfall has attracted the immediate attention of financial advisors who have recognized a business opportunity in helping these new millionaires navigate their changed circumstances. The development has created an unusual situation where workers who previously earned standard salaries must now make decisions about substantial wealth management.

SME
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Economy

Thousands of Ordinary Employees Suddenly Become Millionaires, Don't Know What to Do with Money

Thousands of regular employees have unexpectedly found themselves millionaires, leaving many unsure how to handle their sudden wealth. Financial advisors have quickly recognized the opportunity and are positioning themselves to capitalize on the situation. The circumstances behind this mass creation of new millionaires and the specific reasons for their uncertainty about managing the windfall remain unclear from the limited information available.

SME
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Economy

Slovaks View Platform Work as Source of Flexibility, Survey Shows

Slovaks increasingly see platform-based work as a source of flexibility, according to a new survey. Digital platforms are playing an increasingly important role in Slovakia's economy. Platform work, which includes services like ride-sharing, food delivery, and freelance tasks through digital applications, represents a growing segment of the country's labor market as workers seek more flexible employment arrangements.

SME
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Economy

European Stocks Rise on Friday as DAX Gains 1.76%

European stocks rallied on Friday, with Germany's benchmark DAX index climbing 1.76% to close at 24,635.30 points. Despite the strong Friday performance, the DAX still finished the trading week down 0.5%, reflecting ongoing volatility in European markets.

TASR/Teraz
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Economy

Slovaks Spend More on Food, Less on Energy Since Pandemic, Analyst Says

Slovak households have shifted their spending patterns since the coronavirus pandemic, allocating more money to food purchases while reducing their energy consumption, according to an analyst's assessment. The change reflects a conscious effort by families to save on utility costs, suggesting consumers have become more energy-conscious in their daily habits. This spending pattern shift indicates how the pandemic and subsequent economic pressures have influenced household budget priorities, with Slovaks choosing to cut back on energy use while maintaining or increasing food expenditures.

SME
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Economy

Slovak Employers Demand Simplification of Complex Three-Tier VAT System

Slovak employers have joined opposition parties in calling on the government to reform the country's complicated value-added tax system, which currently operates with three different rates. The complex VAT structure has created confusion for businesses, with domestic fruit and bread rolls taxed at different rates depending on their weight, while restaurants and entertainment venues struggle with varying rates for dine-in meals, takeout orders, beverages, and facility access. The three-tier VAT system has significantly complicated operations for retailers, restaurants, and tourism businesses, with staff required to navigate different tax rates when new inventory arrives.

Dennik N
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Economy

SpaceX Shares Surge 11% on Nasdaq Debut, Making Musk World's First Paper Trillionaire

SpaceX shares opened at $150 on the Nasdaq stock exchange, surging more than 11 percent above their initial offering price in the company's public market debut. The strong market performance pushed Elon Musk's net worth to historic levels, making him the world's first paper trillionaire. The space exploration and satellite internet company's public listing exceeded investor expectations, reflecting strong confidence in the commercial space industry.

Aktuality
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Economy

Slovak State Agency Signs Contract with Vosem Fund for Rental Housing Project

A Slovak state agency has signed a contract with the Vosem fund to develop state-supported rental housing. The agency said partners who share the vision of long-term sustainable housing development are joining the system. The agreement represents part of Slovakia's efforts to expand affordable rental housing options through public-private partnerships, though specific details about the scope, timeline, or investment amount were not disclosed.

TASR/Teraz
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Economy

Slovak Central Bank Governor Predicts Further ECB Interest Rate Increases

Peter Kažimír, governor of Slovakia's central bank, predicted that the European Central Bank will continue raising interest rates. He cited persistent inflation as the primary driver behind the anticipated monetary policy tightening. Slovakia, as a eurozone member since 2009, is directly affected by ECB monetary policy decisions, which impact borrowing costs for consumers and businesses across the country. The ECB has been gradually increasing rates from historic lows to combat rising prices across the euro area.

SME
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Economy

Slovakia's 476 Million Euro Railway Contract Faces Complications Due to Evaluation Errors

A major railway tender worth 476 million euros has encountered complications after Slovak Railways made errors during the evaluation process. The contract involves the renovation of a railway section in the Spiš region of eastern Slovakia. The evaluation problems have disrupted what was expected to be one of Slovakia's largest infrastructure projects, though specific details about the nature of the errors or their impact on the timeline have not been disclosed. The Spiš railway renovation is part of broader efforts to modernize Slovakia's aging rail infrastructure and improve connectivity in the eastern regions of the country.

Korzár
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Economy

Agel Healthcare Group Strengthens Hospital Operations in Bratislava

The Agel healthcare group acquired Milosrdní bratia hospital in Bratislava in April, a development that could significantly reshape the healthcare landscape in Slovakia's capital. Agel, one of Central Europe's largest private healthcare operators, has been expanding its presence across the region through strategic acquisitions of medical facilities. The acquisition of Milosrdní bratia hospital represents another step in the company's efforts to strengthen its position in the Slovak healthcare market, potentially altering the competitive dynamics among healthcare providers in Bratislava and affecting patient access to medical services in the city.

SME
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Economy

Okruhliak Tunnel on Prešov Northern Bypass Nears Breakthrough in Coming Days

Construction crews are expected to break through the Okruhliak tunnel within the next few days, marking a major milestone in the completion of the R4 Prešov northern bypass project. The tunnel is part of the second phase of the bypass construction, which will span 10.2 kilometers when completed. The R4 bypass is designed to redirect traffic around Prešov, Slovakia's third-largest city and the regional capital of eastern Slovakia, reducing congestion in the city center and improving transportation links in the region.

TASR/Teraz
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Economy

Wind Farm Investors Reject Environment Minister's Claims About Environmental Assessment

Investors in a planned wind farm project in Šaštín have rejected statements made by Environment Minister Tomáš Taraba regarding environmental impact assessment procedures. Taraba has argued that Slovakia does not need new wind farms, putting him at odds with developers seeking to expand renewable energy infrastructure in the country. The dispute highlights tensions between the government's energy policy stance and private investment in green energy projects, as Slovakia continues to debate its approach to renewable energy development amid broader European Union climate goals.

SME
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Economy

Stock Market Decline Slows AI-Driven Growth as Investors Await Further Developments

The S&P 500 index has experienced a slight decline after a period of strong growth, prompting discussions about a potential artificial intelligence bubble in financial markets. The downturn has raised questions among investors about the sustainability of recent gains driven largely by AI-related stocks and technology companies. However, analysts at Uniqa investment firm view the current market correction as a healthy reality check rather than the beginning of a bear market. The investment community is now closely monitoring market developments to determine whether this represents a temporary adjustment or signals a more significant shift in investor sentiment toward AI and technology investments.

Aktuality
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Economy

Tax Office in Vranovo Publishes List of Major Delinquent Taxpayers

The tax office in Vranovo nad Topľou has released its list of major tax delinquents, featuring both large corporations and smaller businesses that have failed to meet their tax obligations. The largest debtor on the list is identified as the successor to a traditional local enterprise, though specific details about the amounts owed were not disclosed. The publication of such lists is part of Slovakia's standard tax enforcement procedures, designed to pressure non-compliant taxpayers into settling their debts with the state.

SME
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