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Last refreshed: 06/06/2026 15:39 · 51 articles added
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Economy

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Economy

Tax Authority Fines Lángos Vendor €1,500 Over Missing Diacritical Marks on Receipt

Slovakia's Financial Administration imposed a €1,500 fine on a lángos vendor in Kvetoslavov for issuing receipts without proper Slovak diacritical marks. The penalty was levied against the seller of the traditional fried bread for failing to include accents and other Slovak language marks on their receipt blocks. The Financial Administration is Slovakia's tax collection agency responsible for enforcing tax compliance and fiscal regulations, including requirements for proper documentation of sales transactions.

Bratislavak
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Economy

Slovakia enforces mandatory digital payment requirement for retailers

Slovak retailers now face a new legal obligation to accept at least one form of cashless payment for purchases over one euro, effective from the beginning of May. The Financial Administration, Slovakia's tax authority, has begun monitoring compliance and can now take action against businesses that fail to offer digital payment options. The measure aims to modernize payment systems and reduce reliance on cash transactions, eliminating excuses from merchants who previously claimed their card terminals were not functioning.

Aktuality
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Economy

Slovakia's Antitrust Authority to Reveal Details of Record Fine Against Medical Laboratory Cartel

Slovakia's antitrust authority is set to publish details about a medical laboratory cartel that resulted in a record-breaking fine worth millions of euros. The Antimonopoly Office of the Slovak Republic, which investigates and penalizes anti-competitive business practices, will reveal the specifics of how medical laboratories coordinated to restrict competition in the healthcare sector. The case represents one of the largest cartel investigations in Slovak history, with significant financial penalties imposed on the participating companies. The disclosure comes as part of ongoing efforts to increase transparency in major antitrust cases and demonstrates the authority's commitment to breaking up illegal business arrangements that harm consumers and fair competition.

Aktuality
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Economy

Central Banks Drive Record Gold Purchases Despite Falling Prices

Central banks worldwide are making record purchases of gold despite temporary price declines driven by conflicts, expensive oil, and a strong US dollar. Financial experts suggest the current environment presents opportunities for patient investors, as gold increasingly becomes a strategic asset and tool for balancing global power dynamics. The divergence between falling market prices and institutional buying reflects gold's growing role as a hedge against geopolitical uncertainty and currency volatility.

Aktuality
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Economy

Slovenia's Debt Recovery Offers Model for Slovakia's Economic Challenges

Slovenia has demonstrated a remarkable economic turnaround that could serve as a blueprint for Slovakia's current fiscal challenges. While Slovakia last had lower debt-to-GDP ratio than Slovenia in 2010, the Alpine nation has since experienced debt levels exceeding 80 percent of GDP during 2014, 2015, and 2020 - levels that Slovakia has never reached in its modern economic history. Slovakia currently faces anxiety over crossing the 60 percent debt-to-GDP threshold, a benchmark established under European Union fiscal rules as part of the Maastricht criteria for eurozone members. Slovenia's experience shows how a country can recover from severe debt burdens and rebuild its fiscal position, offering potential lessons for Slovak policymakers as they navigate similar economic pressures.

Dennik N
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Economy

Regional Property Developers Eye Growth Outside Bratislava as Provincial Cities Gain Momentum

Slovakia's real estate development sector is increasingly focusing on opportunities beyond the capital, with regional cities emerging as attractive markets for major developers. The country's largest regional property development companies are concentrating their efforts primarily on county seats and other significant urban centers outside Bratislava. This shift reflects growing demand for residential and commercial properties in Slovakia's provincial cities, as developers seek new opportunities in markets that have traditionally received less attention compared to the capital's saturated real estate sector.

SME
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Economy

Drought Can Benefit Wine But Changes Its Taste, Says Slovak Vintner

Slovak winemaker Michal Bažalík from Svätý Jur says drought conditions, while challenging for many farmers, can actually benefit vineyards by allowing Slovakia to produce more mature grapes than in the past. Bažalík describes wine as a "climatic archive" where opening a bottle allows people to travel back to the period when the grapes were ripening. He explains that warmer and drier conditions generally help wine production, though these climate changes are altering the taste characteristics of Slovak wines. The vintner's perspective contrasts with many agricultural producers who view drought primarily as a disaster, highlighting how different crops respond differently to changing weather patterns.

Dennik N
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Economy

Slovak Job Market Shifts as Unemployment Rises and Employers Become Selective

Slovakia's job market has undergone a dramatic reversal, with companies now overwhelmed by job applications as unemployment concerns grow. Employers are receiving floods of resumes while job seekers wait in vain for responses, marking a stark contrast to previous years when low wages were the primary employment issue. The shift reflects rising nervousness in the labor market, as what was once an employee-friendly environment with acute labor shortages has transformed into a more competitive job-seeking landscape. This change suggests Slovakia's economy may be experiencing a cooling period, with employers now having the luxury of being more selective in their hiring processes rather than struggling to fill vacant positions.

SME
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Economy

Slovakia Sees Record Number of Foreign Workers Despite Economic Challenges

Slovakia is experiencing a record influx of foreign workers, driven primarily by Ukrainian nationals and workers from non-EU countries rather than citizens from European Union member states. Analysts warn this pattern reveals underlying weaknesses in Slovakia's economy, which appears unable to create sufficient high-quality jobs that would attract skilled workers from more developed Western European countries. The composition of foreign workers arriving in Slovakia suggests the country is struggling to compete for talent from wealthier EU nations, raising questions about the quality and attractiveness of employment opportunities in the Slovak labor market.

Dennik N
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Economy

Slovak authorities to get new tools against uninsured drivers as honest motorists subsidize violators

Slovak authorities will receive new enforcement tools to combat drivers operating vehicles without mandatory insurance, as honest motorists continue to subsidize hundreds of thousands of insurance violators through higher premiums. The new measures are expected to include substantial fines for uninsured drivers, though insurance rates are not expected to decrease. The issue affects Slovakia's motor insurance system, where law-abiding drivers effectively pay higher premiums to cover the costs created by those who drive without the legally required third-party liability insurance coverage.

SME
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Economy

VÚB Bank Clients Report Payment Issues as Money Leaves Accounts But Fails to Reach Recipients

VÚB Bank customers are experiencing technical difficulties with payment processing, with money being deducted from their accounts while recipients report not receiving the transfers. The banking disruption affects clients of VÚB, one of Slovakia's major commercial banks, causing concern among customers who see their account balances reduced but their intended payments failing to reach their destinations. The bank has not yet provided details about the scope of the technical problem or when normal payment processing will resume.

Bratislavak
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Economy

Slovakia's Natural Gas Consumption Rises 2% During Winter Heating Season

Slovakia's natural gas consumption increased by 2% year-on-year during the winter heating season from October to March, with distributors delivering 3.23 billion cubic meters to households, businesses and public institutions. The distribution network successfully handled severe January frosts without any supply restrictions or service interruptions. Gas distributors reported no operational problems despite the increased demand during the coldest periods of winter.

SMETASR/Teraz
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Economy

Slovakia's Tax Authority Launches Preventive Control Operation

Slovakia's Financial Administration has launched a preventive control operation targeting sectors with heightened risks of regulatory violations. The tax authority will conduct inspections in craft activities, particularly construction services, body care establishments, restaurants, and accommodation facilities. The Financial Administration, Slovakia's tax collection agency, regularly conducts such operations to ensure compliance with tax and business regulations across high-risk sectors of the economy.

TASR/Teraz
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Economy

Private Forest Managers Can Apply for State Support

Private forest managers in Slovakia can apply for state financial support, with applications accepted from May 15 through the end of June. The support program targets owners and operators of private forestlands, providing them with funding opportunities to help manage their forest properties. Slovakia has significant private forest ownership alongside state-managed forests, and such support programs are designed to encourage sustainable forest management practices and maintain forest health across both public and private lands.

SME
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Economy

Slovakia Among Most Expensive Countries for Employment Costs

Slovakia ranks among the world's most expensive countries for employment costs, with companies paying nearly double the OECD average for workers. The high employment costs place significant financial burden on businesses operating in the country, potentially affecting competitiveness and investment decisions. The Organization for Economic Cooperation and Development (OECD) is a group of 38 mostly developed countries that provides economic data and policy recommendations. Slovakia's elevated employment costs compared to this international benchmark highlight challenges in the country's labor market structure and tax policies affecting businesses.

SME
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Economy

European Central Bank to Tighten Monetary Policy if Inflation Outlook Fails to Improve

The European Central Bank announced it will implement stricter monetary policy measures if the inflation outlook does not show improvement. Energy prices continue to rise as a result of ongoing conflict in Iran, adding pressure to the eurozone's inflationary environment. The ECB's potential policy tightening reflects concerns about persistent price pressures that could undermine the central bank's mandate to maintain price stability across the 20-nation eurozone.

SME
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Economy

German Logistics Company Jungheinrich Wins Fifth Consecutive EcoVadis Platinum Medal

Jungheinrich, a German logistics equipment manufacturer, has received its fifth consecutive platinum medal from EcoVadis, the world's leading sustainability assessment platform. The award places the company among the top tier of the world's most sustainable corporations. EcoVadis evaluates companies across four key areas: environment, labor and human rights, ethics, and sustainable procurement. The platinum medal is awarded to only the top 1% of companies assessed by the platform, making Jungheinrich's five consecutive wins a rare achievement in corporate sustainability rankings. The recognition highlights the company's consistent performance in implementing sustainable business practices rather than just making commitments to environmental and social responsibility.

Aktuality
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Economy

Slovak bike retailer Najšport sells premium bicycles more expensive than cars

Patrik Kedžuch, founder of Slovak premium bicycle retailer Najšport, has built a business that now sells bicycles costing more than automobiles through its e-commerce platform. Kedžuch made his first sale at age seven and has since developed the company into a major player in the high-end cycling market. The retailer specializes in premium bicycles that command prices exceeding those of typical cars, reflecting the growing market for luxury cycling equipment in Slovakia.

SME
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Economy

Slovak Parliament Prepares to Grant Energy Price Chief Absolute Power and 20% Pay Rise

The Slovak parliament is preparing legislation that would concentrate decision-making power over energy prices in the hands of a single person - the head of the Regulatory Office for Network Industries (ÚRSO). The proposed changes would grant the ÚRSO chairman absolute authority over energy pricing decisions in the Slovak market, while also providing a 20% salary increase. Energy market experts are criticizing the proposed reforms, arguing they would weaken the regulator's independence and represent an ineffective approach to energy market oversight. ÚRSO currently serves as Slovakia's energy market regulator, responsible for setting prices and overseeing the electricity and gas sectors that directly impact household and business energy costs across the country.

Aktuality
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Economy

Tourism Industry Reports Shift from Dubai to Europe as Middle East Travel Declines

Travel agencies and airline ticket sellers are reporting a significant decline in tourist interest in Middle East destinations, with travelers increasingly choosing European destinations over Dubai and other regional hotspots. The tourism industry is questioning whether Mediterranean destinations can handle the expected surge in visitors as travelers redirect their holiday plans away from the Middle East. This shift represents a notable change in travel patterns, with European coastal areas potentially facing increased pressure to accommodate the redirected tourist demand that previously flowed to Middle Eastern destinations.

SME
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