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Last refreshed: 05/06/2026 21:42 · 44 articles added
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Economy

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Economy

Slovnaft Delivers Record Aviation Fuel Volume to Bratislava Airport

Slovnaft supplied a record volume of aviation fuel to Bratislava Airport in the first five months of the year, delivering nearly 30 million liters. The fuel delivery represents a significant increase in aviation activity at Slovakia's main international airport. Slovnaft, the Slovak oil refining company and major fuel supplier, has been providing aviation fuel to support the airport's operations as air traffic continues to recover and grow.

SME
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Economy

Slovak Businesses Can Test Digital Mail Service for Mandatory Electronic Invoicing

Slovak businesses can now test electronic invoicing services ahead of mandatory implementation next year for VAT-paying companies. Under the new system, businesses that pay value-added tax will be required to use electronic invoices (eFaktúry) and must select a digital mail service provider to receive them. Companies that do not pay VAT will not be required to issue electronic invoices but must still have a digital mail service to receive them. The legislation exempts property rental businesses that operate without a trade license from receiving electronic invoices. The digital invoicing requirement represents part of Slovakia's efforts to modernize business processes and reduce administrative burdens through digitalization.

Dennik N
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Economy

Italian Cosmetics Brand Kiko Milano Opens First Slovak Store in Bratislava

Italian cosmetics retailer Kiko Milano has opened its first store in Slovakia at Aupark shopping center in Bratislava. The Milan-based beauty brand, known for its affordable makeup and skincare products, is expanding its Central European presence with the new Bratislava location. Aupark, one of Bratislava's major shopping destinations located in the city's Petržalka district, serves as the entry point for the brand into the Slovak retail market.

Bratislavak
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Economy

Slovakia Has Highest Gas Import Dependency in European Union

Slovakia has the highest dependency on gas imports among all European Union member states, making it particularly vulnerable to energy price shocks and supply disruptions. The country's heavy reliance on imported gas stems from historical factors and the extensive use of natural gas for heating and fertilizer production. This vulnerability is shared by many European nations that lack domestic energy resources, but Slovakia's position at the top of the dependency rankings highlights its exceptional exposure to energy market volatility and potential supply chain problems.

Dennik N
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Economy

Former Finance Minister Analyzes European Economic Performance Against US

Ivan Mikloš, Slovakia's former finance minister, has written an analysis examining why European economies are growing more slowly than the United States. In his commentary, Mikloš argues that while some European countries are keeping pace economically with America, major economies like France and Germany have failed to undergo necessary structural reforms. He points to differing unemployment trends between the US and large European nations as evidence that crises such as the pandemic led to beneficial economic restructuring in America but not the required changes in European economies. Mikloš served as Slovakia's finance minister and deputy prime minister in multiple governments between 2002-2006 and 2010-2012, playing a key role in the country's economic reforms and eurozone entry.

Dennik N
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Economy

European Commission Warns of Slovakia's Low Economic Growth and Rising Debt

The European Commission has released its economic policy recommendations for member states, highlighting significant concerns about Slovakia's economic performance. The Commission warned that Slovakia's economic growth remains low, having slowed to just 0.8 percent last year, with the same sluggish pace expected to continue through 2026. The report also pointed to Slovakia's rising debt levels and the absence of a clear economic plan to address these challenges. The Commission's annual country-specific recommendations serve as guidance for member states' fiscal and economic policies within the European Union framework, identifying areas where governments need to take corrective action to ensure economic stability and growth.

SMETASR/Teraz
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Economy

Frost and drought hamper strawberry cultivation in Michalovce region

Strawberry growers in the Michalovce area faced significant challenges this year due to adverse weather conditions. The cultivation season was complicated by both drought and freezing temperatures, with particular problems caused by frosty nights during April and May, which are critical months for strawberry development.

TASR/Teraz
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Economy

Slovakia Best Complies with EU Fiscal Rules Among All Members, Finance Minister Says

Slovakia is the best performer among all European Union member states in complying with the bloc's fiscal rules, Finance Minister Ladislav Kamenický stated. The minister also referenced the latest forecast from the Organisation for Economic Co-operation and Development (OECD), which revised down its growth estimate for the Slovak economy but noted that many other countries are expected to grow even more slowly. Slovakia's strong fiscal performance comes as EU member states face varying economic challenges, with the country positioning itself as a model for budgetary discipline within the European framework.

TASR/Teraz
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Economy

Slovakia Meets EU Funding Absorption Target for 2024 Ahead of Schedule

Slovakia successfully fulfilled its European Union funding absorption requirement for 2024 in May, well ahead of the year-end deadline. The country needed to draw down 2.2 billion euros in EU funds by the end of 2024 to meet its targets. Slovakia satisfied the N+3 rule, a mechanism that requires EU member states to use and properly account for allocated funds within three calendar years of their assignment. Under this rule, funds allocated to Slovakia for 2021 had to be fully utilized and accounted for by the end of 2024 to avoid losing the money back to Brussels. The early achievement of this target demonstrates Slovakia's improved capacity to absorb EU structural funds, which finance infrastructure projects, economic development programs, and social initiatives across the country.

SMETASR/Teraz
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Economy

Slovak Worker Earns €10,000 in Four Months Cutting Fish in Norway

A Slovak man named Matúš earned €10,000 during a four-month period working in Norway's fishing industry, where he spent his days cutting fish. His experience highlights the continued appeal of seasonal work opportunities in Norway for Slovak workers seeking higher wages than available domestically. Norway remains a popular destination for temporary migrant workers from Slovakia and other Central European countries due to significantly higher wage levels, particularly in industries like fishing, agriculture, and construction.

SME
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Economy

State Power Grid Company Reports Strong Performance Despite 25% Profit Drop

Slovak Electricity Transmission System (SEPS), the state-owned electricity grid operator, saw its profits decline by nearly a quarter in 2024 but still significantly exceeded its planned targets. The company managed to keep electricity costs under control through lower tariffs and strict cost management measures. Despite the profit decrease, SEPS described the results as excellent, highlighting its success in maintaining grid stability while controlling expenses for consumers. The transmission system operator plays a crucial role in Slovakia's energy infrastructure, managing the high-voltage electricity network that distributes power across the country.

Aktuality
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Economy

Hungarian Oil Giant MOL Begins Natural Gas Production in Azerbaijan

MOL Group, the Hungarian oil and gas company, has commenced commercial natural gas extraction in Azerbaijan, marking the first commercial gas production from one of the world's largest hydrocarbon deposits. The development represents a significant milestone for the Central European energy company as it expands its operations into the Caspian region. Azerbaijan's vast energy reserves have attracted major international oil companies, and MOL's entry into commercial production there strengthens the company's position in natural gas extraction beyond its traditional Central and Eastern European markets.

SME
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Economy

Corporate Interest in Electric Vehicles Sees Triple-Digit Growth in Slovakia

Corporate demand for electric vehicles in Slovakia has experienced triple-digit percentage growth, according to experts from ZSE, the country's main electricity distribution company. The surge in business interest comes as charging times for electric vehicles increasingly match the time required for traditional fuel refueling. ZSE, which operates Slovakia's largest electricity distribution network, has observed this dramatic shift as companies reassess their fleet strategies amid improving electric vehicle infrastructure and technology.

SME
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Economy

Business Margins Under Threat from Hidden Cost Factors, Industry Analysis Shows

Slovak businesses face mounting pressure on profit margins from often-overlooked operational factors, according to new industry analysis. While most company owners closely monitor supplier prices and direct costs, profits are being quietly eroded by other phenomena that frequently escape attention. The business environment presents multiple challenges including rising input costs, market uncertainty, and fluctuating customer demand, creating a complex landscape where traditional cost-watching may not be sufficient to protect profitability.

Aktuality
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Economy

Wizz Air Expands Operations in Slovakia, Promising Flight Reliability Revolution

Budget airline Wizz Air is strengthening its position in Slovakia by connecting 35 destinations across 15 countries from three Slovak cities: Bratislava, Košice, and Poprad. The Hungarian low-cost carrier is expanding its fleet capacity and increasing its summer holiday offerings as part of what it calls a "revolution" in travel services. The expansion comes as airlines work to improve reliability and reduce flight cancellations that have plagued the industry in recent years.

Aktuality
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Economy

High Energy Prices Could Threaten 1.3 Million Jobs Across European Union

High energy costs across the European Union could threaten up to 1.3 million jobs, according to new estimates. The automotive industry faces the most severe risk of widespread layoffs due to elevated energy prices that have impacted manufacturing costs across the bloc. The warning highlights the continued economic pressure on EU industries as energy prices remain elevated compared to pre-crisis levels, with energy-intensive sectors particularly vulnerable to job losses.

SME
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Economy

Slovak Officials Fail to Provide Tax Receipt at Mountain Hut Despite Anti-Tax Haven Campaign

Slovak officials were unable to provide a proper tax receipt at Téryho chata, a mountain hut, with only a customer confirmation slip being issued from the payment terminal. The incident highlights inconsistencies between the government's stated commitment to combating tax avoidance and actual compliance with tax documentation requirements. The failure to issue proper receipts represents a violation of Slovak tax laws, which require businesses to provide official tax documents for all transactions.

Korzár
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Economy

Slovak Housing Construction Hits Historic Low Despite Soaring Demand

Slovakia completed its lowest number of new apartments in the first quarter of any year since 2000, with construction falling by 25% compared to the same period last year. New construction projects also declined by one-third year-on-year, creating an unprecedented situation in the country's modern housing sector. The sharp drop in housing supply comes as demand for residential properties remains extremely high, driving real estate prices upward at a rapid pace. This mismatch between supply and demand represents the most severe housing construction crisis Slovakia has faced in recent decades, with the construction industry unable to meet basic housing needs despite strong market demand.

Dennik N
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Economy

Slovak Government Approves Tax Cuts and Regulatory Changes to Boost Economic Growth

Slovakia's government has approved its first package of economic measures aimed at boosting growth, which will be presented to parliament in September. The package includes reducing electricity taxes for industrial companies and eliminating the requirement for businesses to publicly announce the issuance of receipts. The government also plans to modify medical examinations for workers in high-risk occupations. Additional measures are still under review by ministers, including potential changes to depreciation rules and outdated regulations. The ruling coalition, led by Robert Fico's Smer-SD party, has prioritized economic recovery as Slovakia faces slower growth compared to regional neighbors. These regulatory changes represent the government's attempt to reduce administrative burdens on businesses while maintaining fiscal stability amid broader European economic challenges.

Dennik N
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Economy

Slovak Town of Ilava Revives Major Housing Development Plans After Years of Delays

The western Slovak town of Ilava is moving forward with plans for a major residential development designed to house 500 people, marking a significant revival of construction activity in the sleepy municipality. Local construction company Excudit is behind the renewed project, which expands on their original 2017 proposal for apartment buildings by now including single-family homes as well. The development represents a notable undertaking for Ilava, a town in the Považie region with fewer than 6,000 residents, where large residential complexes are uncommon. The project comes after years of stalled construction in the area, including the previously frozen Zábreh complex that was also intended to provide housing for nearly 500 residents.

Dennik N
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