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Last refreshed: 06/06/2026 21:36 · 34 articles added
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Economy

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Economy

Costs Mount for Suspended Prešov Hospital Project as Additional Investments Required

The financial burden of the halted hospital construction project in Prešov continues to escalate, with associated investments adding millions more to the total cost. Defense Minister Jaroslav Naď has predicted that available funding will prove insufficient to cover the mounting expenses. The warning highlights growing concerns over the financial viability of the suspended healthcare infrastructure project in eastern Slovakia's regional center. The hospital project represents a significant investment in the region's healthcare capacity, but the suspension and associated costs are straining the allocated budget beyond original projections.

Korzár
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Economy

Housing Prices Rise Sharply Across Slovakia, One-Bedroom Apartments See Steepest Increases

Housing costs are rising significantly throughout Slovakia, with particularly steep price increases recorded in the Banská Bystrica region in central Slovakia. One-bedroom apartments have experienced the most dramatic price growth among all housing types, continuing a broader trend of escalating residential property costs across the country. The price increases affect both the rental and purchase markets, adding to affordability pressures for Slovak residents seeking housing.

Bratislavak
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Economy

Gold prices rise over two percent during the week

Gold prices increased by more than two percent over the past week as market optimism helped ease concerns about inflation and high interest rates. The precious metal's gains reflect improved investor sentiment amid reduced fears about persistent inflationary pressures and the potential impact of elevated borrowing costs on economic growth.

SME
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Economy

Saudi Aramco CEO Warns of Long-Term Oil Market Disruption

The chief executive of Saudi Aramco has warned of potential long-term disruptions to global oil markets. The warning comes as the world's largest oil company reported strong financial results, with higher oil and refined product prices helping boost net profits by 25 percent in the first quarter compared to the same period last year. Saudi Aramco, the state-owned petroleum giant that serves as the backbone of Saudi Arabia's economy, has benefited from elevated energy prices amid ongoing global market volatility. The company's warning about market disruptions reflects concerns about supply chain stability and geopolitical tensions affecting the global energy sector.

TASR/Teraz
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Economy

Majority of Hens in Slovakia Now Kept Outside Cages

Slovakia has transitioned to predominantly cage-free hen farming, with the majority of the country's 2.9 million hens now housed outside traditional battery cages as of January 2026. The shift represents a significant change in the country's poultry industry practices, moving toward more animal welfare-conscious farming methods. This development aligns with broader European Union trends toward improving conditions for farm animals, as many EU countries have been gradually phasing out conventional cage systems in favor of alternative housing that allows hens greater freedom of movement.

SMETASR/Teraz
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Economy

Oil Prices Fall Over 6% Amid Persian Gulf Military Tensions

Oil prices dropped more than 6% last week as military tensions escalated in the Persian Gulf region. American and Iranian forces encountered each other in the strategic waterway, while the United Arab Emirates faced renewed attacks during the period. The price decline occurred as Washington awaited Tehran's response to a US proposal aimed at ending the ongoing conflict between the two nations.

TASR/Teraz
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Economy

Slovakia Maintains Credit Rating from Fitch, Prime Minister Says

Slovakia has maintained its credit rating from international rating agency Fitch, Prime Minister Robert Fico announced, calling the development good news for the country. The ruling coalition council is scheduled to decide on economic support measures on Thursday, according to the prime minister. Fitch Ratings is one of the major international credit rating agencies that assess countries' ability to repay debt, and maintaining a stable rating helps preserve investor confidence and keeps borrowing costs manageable for government financing.

SMETASR/Teraz
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Economy

Business Group Says Local Government Reform Needed for Public Finance Consolidation

Klub 500, a Slovak business association representing the country's largest companies, has declared that successful consolidation of public finances requires reform of local governments. The organization argues that Slovakia's public administration faces long-term structural problems that must be addressed as part of broader fiscal reforms. The statement comes as Slovakia grapples with budget deficit issues and pressure from European Union fiscal rules to reduce government spending and improve financial management.

SME
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Economy

Water Bills Set to Rise Across Slovakia, Affecting All Households

Slovak households face higher water costs as utility companies prepare to increase water bills nationwide. The price hikes will impact every family's budget, adding to existing financial pressures on consumers. Water utility services in Slovakia are typically provided by regional companies and municipalities, with pricing subject to regulatory approval. The increases come amid broader concerns about rising living costs affecting Slovak households across multiple sectors.

Korzár
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Economy

New Water Fee Increases Household Bills by Eighty Euros for Three-Person Families

Water companies in Slovakia have introduced a new fee that will increase water bills for households across the country. A three-person household will pay an additional eighty euros due to this new charge. Water utilities have already completed extraordinary meter readings to implement the fee structure. The new charge represents a significant increase in water costs for Slovak families, though the specific nature and justification for the fee has not been detailed by the water companies.

Korzár
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Economy

Average lunch bill in Slovakia exceeds nine euros as payments rise in April

Lunch payments in Slovakia increased again in April after a brief decline, with the average bill surpassing nine euros for the first time. The average cost of lunch for the first four months of 2024 reached 9.07 euros, reflecting continued upward pressure on restaurant prices. The April increase marks a reversal from a modest decrease recorded in the previous period, indicating that dining costs continue to rise despite temporary fluctuations.

SMETASR/Teraz
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Economy

IKEA Introduces Self-Service Kiosks in Restaurants Abroad, Slovakia Still Waiting

Swedish furniture retailer IKEA is rolling out self-service kiosks in its restaurant locations in international markets as part of a modernization effort to streamline customer ordering processes. The new system allows customers to place food orders independently rather than waiting in traditional service lines. However, Slovakia has not yet been included in this technological upgrade, with no announced timeline for when the self-service kiosks might arrive at the country's IKEA locations. The change represents part of IKEA's broader digital transformation strategy aimed at improving customer experience and operational efficiency in its food service operations.

Bratislavak
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Economy

Slovak Entrepreneur Builds Successful Business in Ireland After Failed Job Search at Home

A Slovak woman who struggled to find employment in her home country has built a thriving business in Ireland, now recruiting staff for major international companies including TikTok. Katarína initially sought work in Slovakia, sending out 100 job applications without success. After experiencing financial hardship so severe she could not afford lunch, she decided to leave Slovakia and establish her own business abroad. Her company now operates in the recruitment sector, connecting global firms with talent. The case highlights ongoing challenges in Slovakia's job market and the brain drain phenomenon, where skilled Slovaks seek opportunities in Western Europe's more dynamic economies.

Aktuality
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Economy

Fitch Confirms Slovakia's Credit Rating at Unchanged Level

International credit rating agency Fitch has confirmed Slovakia's sovereign credit rating at its current level, citing progress in the country's fiscal consolidation efforts. The rating agency noted that Slovakia is making headway in reducing its budget deficit and improving its public finances. Credit ratings are closely watched indicators that influence a country's borrowing costs and international investor confidence. Fitch is one of the three major global credit rating agencies, alongside Moody's and Standard & Poor's, and their assessments significantly impact how financial markets view a nation's economic stability and debt sustainability.

SME
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Economy

Transport Ministry to Re-examine 39 Million Euro Tender After Appeal

Slovakia's Ministry of Transport will cancel its decision to exclude a bidder from a 39 million euro public procurement tender and re-evaluate whether the company met participation requirements. The ministry must reinstate the excluded bidder into the competition and conduct a fresh assessment of their qualification criteria. The decision follows what appears to be a successful appeal by the rejected company, though specific details about the nature of the tender or the grounds for the original exclusion were not disclosed.

TASR/Teraz
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Economy

Public Procurement Office Orders Correction of Illegal Exclusion in PPP Advisory Services Tender

Slovakia's Public Procurement Office has ordered the removal of an illegal state of affairs in a tender for advisory services related to public-private partnership (PPP) projects. The office issued the directive following objections from a supplier group that had been excluded from the procurement process. The Public Procurement Office, which oversees government contracting to ensure transparency and fair competition, determined that the exclusion violated procurement regulations and must be corrected.

SME
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Economy

Zemplín Region Attracts Record Number of Foreign Tourists

The Zemplín region in eastern Slovakia is experiencing unprecedented growth in international tourism, with foreign visitors now comprising more than one-third of all tourists to the area. The popular destinations of Šírava reservoir and the Tokaj wine region are reporting record levels of interest from international guests. This represents a significant shift in the tourism profile of the region, which includes parts of Slovakia's eastern borderlands near Hungary and Ukraine. The increase in foreign tourism reflects growing international recognition of the area's natural attractions, including the large Šírava water reservoir popular for recreation, and the renowned Tokaj wine-producing area that spans the Slovak-Hungarian border.

Korzár
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Economy

Chinese automaker BYD launches two new SUV models in Slovakia

Chinese electric vehicle manufacturer BYD has introduced two new SUV models to the Slovak market: the ATTO 3 EVO and the SEALION 5 DM-i. The launch represents BYD's continued expansion into European markets as the company seeks to establish a stronger presence in Slovakia's growing electric and hybrid vehicle segment. BYD, one of China's largest electric vehicle manufacturers, has been rapidly expanding its international operations in recent years, positioning itself as a major competitor to established European and American automakers in the transition to electric mobility.

Bratislavak
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Economy

Slovak Employers Union Warns Europe Losing Competitiveness, Calls for Reduced Regulations

The Republican Union of Employers (RÚZ), Slovakia's main business association, released a strategic document outlining its European Union priorities through 2030, warning that Europe is losing competitiveness in the global market. The employers' organization presented the document on Europe Day, calling for reduced regulatory burdens on businesses to help restore European economic strength. The RÚZ represents Slovak companies and serves as a key voice for the private sector in policy discussions with both the Slovak government and EU institutions.

TASR/Teraz
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Economy

MOL Group Reports 180 Million Euro Profit Despite Regional Energy Disruptions

MOL Group, the Hungarian oil and gas company that owns Slovakia's Slovnaft refinery, posted a gross profit of 180 million euros in the first quarter of 2026 despite facing significant operational challenges. The company weathered geopolitical shocks, a fire at a key Hungarian refinery, and outages on the Druzhba oil pipeline, which carries Russian crude oil through Eastern Europe to refineries in Hungary, Slovakia, and the Czech Republic. MOL announced a strategic investment of 153 million euros to build a new product pipeline connecting Slovakia and Hungary, aimed at strengthening regional energy security amid ongoing uncertainty in global markets. The pipeline project represents MOL's effort to enhance supply chain resilience in Central Europe, where energy infrastructure has faced repeated disruptions due to geopolitical tensions and technical failures affecting critical oil transport routes.

Aktuality
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