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

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Economy

Slovakia's Highway Authority Seeks Road Marking Contractor for €15 Million Project

Slovakia's National Highway Company is searching for a contractor to renew horizontal road markings on the country's highways in a tender worth nearly 15 million euros. The National Highway Company, which manages Slovakia's highway infrastructure, has launched the procurement process to refresh lane markings, road symbols, and other painted guidance systems across the highway network. However, the tender process has been delayed by repeated objections from competing bidders, slowing down the selection of a contractor for the substantial road maintenance project.

Aktuality
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Economy

Slovakia Wasted Major Opportunity Over Twenty Years of EU Funding, Report Finds

Slovakia has squandered a significant opportunity despite receiving billions of euros in European Union funding over the past two decades, with the country's regions continuing to lag behind in development. Brussels has provided substantial financial support to Slovakia since the country joined the EU in 2004, but persistent mistakes and mismanagement have prevented the funds from achieving their intended impact. The assessment highlights how Slovakia repeatedly made the same errors in utilizing EU structural funds, which were designed to help close the development gap between newer member states and more established European economies. Despite the massive influx of EU money, regional disparities within Slovakia remain pronounced, suggesting that the country failed to effectively leverage this historic funding opportunity to modernize its infrastructure and boost economic development in underperforming areas.

SME
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Economy

EU Fund Audits Reveal Thousands of Violations Over Years of Slovak Mismanagement

Slovak auditors have uncovered thousands of violations in the management of European Union funds over multiple years, according to a comprehensive review of EU funding programs. The European Union has provided over 5,000 euros per Slovak citizen in development funding, but auditors found that the results achieved do not correspond to the substantial investment made. The repeated cases of mismanagement and violations in EU-funded projects highlight systemic problems in how Slovakia has administered European development funds designed to boost the country's infrastructure, economy, and social programs. Slovakia, as an EU member since 2004, has been one of the largest per-capita recipients of EU structural and cohesion funds, which are intended to help less developed regions catch up with wealthier parts of the European Union.

SME
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Economy

Slovak Railway Company Unveils New Generation of Night Trains

Slovakia's national railway company has introduced a new generation of night trains featuring modernized sleeping cars. The upgraded sleeper carriages are scheduled to enter service later this year, representing a significant investment in the country's rail infrastructure and overnight passenger services. The modernization reflects efforts to improve comfort and competitiveness of rail travel as an alternative to air and road transport for longer domestic and international routes.

SME
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Economy

Gold prices return to modest growth after recent decline

Gold prices returned to modest growth, reaching $4,338.69 per troy ounce by mid-afternoon Central European time. The precious metal saw only slight recovery after falling to nearly three-month lows, supported by declining oil prices. However, gold remains below the $4,339 per ounce threshold, with market growth constrained by expectations of higher interest rates in the United States.

SMEAktualityTASR/Teraz
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Economy

Slovak Family Firm Opens Multi-Million Euro High-Tech Production Line in Tornaľa

A Slovak family company has invested 9 million euros in a state-of-the-art production line in Tornaľa, a town in the economically disadvantaged Gemer region of southern Slovakia. The company, Gemerka, has used this facility to successfully expand into the Czech market, creating stable employment for dozens of families in an area traditionally marked by high unemployment and economic hardship. The investment represents a significant industrial development for the Gemer region, which has historically struggled with limited economic opportunities and population decline since the fall of communism.

Aktuality
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Economy

Slovakia Introduces New Social Insurance Micro-Contribution Rules for Self-Employed

Slovakia's Social Insurance Agency will implement new social insurance contribution rules for self-employed individuals and sole traders starting in July. Under the new regulations, the agency will assess income for self-employed persons as of July 1, or October 1 for those filing delayed tax returns. Retirees who continue working as self-employed will pay a micro-contribution of 107.57 euros. The changes stem from amendments to social insurance legislation that took effect in January, requiring many entrepreneurs and self-employed individuals to pay this new type of insurance premium called a "micro-contribution." The reforms aim to standardize social insurance obligations for Slovakia's substantial self-employed workforce, which includes small business owners, freelancers, and independent contractors who previously operated under different contribution schemes.

Dennik N
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Economy

Poland's Minimum Wage Surges 175 Percent Over Twelve Years

Poland's minimum wage has jumped by nearly 175 percent over the past twelve years, representing one of the most dramatic increases in the region. However, inflation has significantly eroded the purchasing power gains from these wage increases, limiting their real-world impact on workers' living standards. The minimum wage policy now affects approximately one-quarter of all employees in Poland, highlighting its growing importance in the country's labor market and economic policy discussions.

Aktuality
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Economy

Slovak Prime Minister Calls for Agricultural Support Amid Severe Drought and Dairy Crisis

Slovak Prime Minister Robert Fico has called for comprehensive government support for farmers facing severe drought conditions and a crisis in the dairy sector. Fico emphasized the need for the Ministry of Agriculture to implement all possible legal concessions for agricultural producers, particularly in areas of subsidies and financial support. The prime minister's statement highlights the mounting challenges facing Slovakia's agricultural sector as prolonged dry weather threatens crop yields and dairy farmers struggle with market pressures. Slovakia, like much of Central Europe, has experienced increasingly frequent drought conditions in recent years, putting significant strain on agricultural production and rural livelihoods.

TASR/Teraz
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Economy

Maximum unemployment benefit to increase from July in Slovakia

Slovakia will raise the maximum unemployment benefit starting in July, though the change will not affect those currently receiving benefits. The adjustment comes as part of regular updates to the country's social security system, which provides financial support to unemployed workers while they search for new employment. Current benefit recipients will continue to receive their existing payment amounts without any modification to their monthly support.

SME
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Economy

Slovak Post Offices Run Short of Cash for Energy Voucher Payments

Several Slovak Post Office branches experienced cash shortages while distributing government energy vouchers, forcing managers to transfer funds from other locations to meet demand. The cash flow problems occurred in multiple cities across the country as citizens collected the vouchers designed to help offset rising energy costs. The energy voucher program, part of the government's response to increased utility bills, requires recipients to collect payments in cash at post office locations, creating unusually high demand for physical currency at participating branches.

Korzár
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Economy

Slovakia to Reduce Social Contributions for Part-Time Work, Benefiting Students, Retirees and Parents

Slovakia's government is preparing changes to social contribution rules that will make part-time work arrangements more financially attractive. The reforms will reduce mandatory social security payments for work performed under temporary agreements, allowing students, retirees, and parents to keep more of their earnings. The proposal, originally initiated by the Slovak National Party (SNS), has been incorporated into a broader legislative package by Labor Minister Denisa Saková. The changes represent a shift toward making flexible work arrangements more economically viable for groups who typically work part-time or seasonal jobs. The Slovak National Party is a nationalist party that forms part of the current ruling coalition alongside the social-democratic Smer-SD party and the populist Hlas party.

SME
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Economy

Three Highway Sections in Eastern Slovakia Drop from Priority Development Plans

Three sections of the D1 highway in the Zemplín region of eastern Slovakia have been removed from the government's top 15 infrastructure development priorities and replaced with less heavily trafficked routes. The D1 highway, which is planned to connect Slovakia's second-largest city Košice to the Ukrainian border, currently has only one completed section running from Košice to the village of Bidovce. The Zemplín region, located in Slovakia's far east near the borders with Ukraine and Hungary, has been awaiting completion of this strategic highway connection for years as part of broader efforts to improve transport links to Ukraine and enhance regional economic development.

Aktuality
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Economy

Nvidia CEO Says AI Revolution Just Beginning Despite Stock Market Selloff

Global stock markets experienced a sharp decline this week amid multiple negative factors, but Nvidia's chief executive said the downturn could present a buying opportunity for investors. The technology company's leader maintained that artificial intelligence development remains in its early stages despite recent concerns about overvaluation. The market selloff was triggered by escalating conflict in Iran, fears of rising inflation and higher interest rates, and growing questions about whether the dramatic surge in AI-related stocks has gone too far. Nvidia has been at the center of the artificial intelligence boom, with its specialized chips powering much of the current AI revolution.

Dennik N
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Economy

Mountain Hut Management Company Rapidly Acquires Three High Tatras Facilities

A newly formed limited liability company established in April has quickly acquired management of three mountain huts in Slovakia's High Tatras region within months of its creation. The company gained control of a hut below Ďumbier peak in June, just two months after its formation, and has since November also taken over management of Téry Hut, a popular mountain refuge. The rapid acquisition of multiple mountain facilities by such a recently established entity represents an unusual development in the management of Slovakia's mountain tourism infrastructure. Mountain huts serve as crucial accommodation and shelter points for hikers and mountaineers in the High Tatras, Slovakia's premier mountain range and a major tourist destination along the border with Poland.

Korzár
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Economy

Slovakia Received Nearly €29 Billion in EU Funds Over 20 Years, But Regional Gaps Persist

Slovakia has received almost €29 billion in net EU funding over the past two decades, according to an assessment by the Supreme Audit Office. The audit found that European Union funds improved the country's infrastructure and living standards, but were less effective in supporting innovation and productivity growth. The primary goal of reducing regional disparities was only partially achieved, with eastern Slovakia remaining significantly below the EU average in economic development. The funding system continues to suffer from persistent problems including excessive bureaucracy, poor management, weak oversight, and last-minute spending rushes to meet deadlines. These structural issues have plagued Slovakia's EU fund absorption throughout the more than 20-year period since joining the European Union.

Dennik N
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Economy

Greek Economic Recovery Outpaces Slovakia with Better Public Finances

Greece has achieved significantly stronger economic growth compared to Slovakia, with the country's public finances now in considerably better condition than those of Slovakia. The Mediterranean nation, which underwent severe austerity measures and economic restructuring following its debt crisis in the 2010s, has managed to stabilize its economy and avoid the decline in wages and pensions that many had predicted. Greece's economic turnaround stands in contrast to Slovakia's current fiscal challenges, highlighting the effectiveness of the structural reforms implemented during the country's bailout period.

SME
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Economy

Environmental Groups Challenge Tender Criteria for Slovakia's Major Tar Pit Cleanup Project

The Environmental Sanitation Association (Envisan), which represents remediation companies, has raised concerns about the tender conditions for cleaning up tar pits in Predajná, a project valued at over 54 million euros excluding VAT. The association warns that the competition criteria are designed for specific purposes and are professionally unbalanced, failing to adequately exclude companies without real experience in environmental contamination remediation. The main issues identified include an overly economic approach to evaluating company turnover and unrealistic requirements for reference projects. Envisan argues these flawed criteria could allow inexperienced firms to participate in what is a complex environmental cleanup operation requiring specialized expertise.

Aktuality
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Economy

Slovak Government Approves Economic Growth Package Despite Expert Skepticism

The Slovak government approved a package of measures aimed at supporting economic growth, though experts warn the initiatives will not deliver higher growth rates and primarily serve to reduce bureaucracy. Prime Minister Robert Fico, leader of the ruling social-democratic Smer-SD party, used the announcement to engage in political messaging, claiming his government is fulfilling campaign promises and should not be treated as a "punching bag." Fico also made indirect threats toward businesses and trade unions that have expressed dissatisfaction with the government's economic policies, suggesting there could be consequences for continued criticism.

Dennik N
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Economy

Gold Prices Continue Decline at Start of Week

Gold prices extended their decline at the beginning of this week, continuing a downward trend in precious metals markets. Other precious metals also saw price decreases during the same period. The ongoing decline reflects broader market conditions affecting commodity prices, with investors responding to various economic factors influencing demand for safe-haven assets like gold and other precious metals.

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