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Last refreshed: 07/06/2026 10:37 · 52 articles added
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Economy

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Economy

Energy Policy Discussion Must Not Be Taboo, Slovak Officials Say

Slovak officials emphasized that discussions about the country's energy policy should not be treated as a forbidden topic. The statement comes as Slovakia faces ongoing energy security challenges and debates over its future energy mix. Officials stressed that the most efficient electrical energy is that which does not need to be produced at all, highlighting the importance of energy conservation and efficiency measures. Slovakia, like other European Union member states, is working to balance energy security concerns with environmental commitments and economic considerations as it transitions away from fossil fuel dependence.

SME
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Economy

Demographic Changes Could Significantly Impact Slovakia's Economic Development

Slovakia faces potential significant economic consequences from demographic trends, according to analysis highlighting the broader impact of population changes beyond traditional economic and technological factors. The demographic development could fundamentally influence the country's wealth-building capacity, suggesting that population dynamics play a crucial role in long-term economic planning. The analysis indicates that demographic factors require serious consideration in national economic policy, as population changes can create both opportunities and challenges for sustainable economic growth.

Aktuality
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Economy

Bank Fraud Costs Czech Customers Nearly 800 Million Crowns This Year

Czech bank customers lost nearly 800 million Czech crowns (approximately $35 million) to fraud in the first three months of 2024, according to banking industry data. Clients of Czech banks faced almost 24,000 fraudulent attacks during the first quarter alone, highlighting the growing threat of financial cybercrime in the region. The substantial losses underscore the sophisticated methods being employed by fraudsters targeting banking customers across the Czech Republic, as financial institutions struggle to keep pace with evolving criminal tactics in the digital banking environment.

SME
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Economy

Slovak Businessman Changes Companies While Leaving Behind Millions in Debt

The owner of the Secom business group is now operating through his third company while leaving millions in unpaid debts from previous ventures. The businessman appears to be using a pattern of shifting operations between different corporate entities, effectively avoiding financial obligations from earlier business activities. This practice allows him to continue operations while creditors are left with substantial unpaid amounts from the abandoned companies.

SME
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Economy

Slovakia's Postal Service Proposes Closure of Dozens of Branches

Slovenská pošta, Slovakia's state postal service, has proposed closing dozens of its branches as part of a complete overhaul of its operations, according to the country's postal regulatory authority. The postal service is preparing an entirely new concept for what it calls 'small post offices.' While the regulatory office confirmed that quality service indicators have been met, it noted that the final decision on which branches to close and when will ultimately rest with Slovenská pošta itself. The proposed closures represent a significant restructuring of postal services across the country, though specific details about which locations would be affected have not been disclosed.

SMETASR/Teraz
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Economy

Finance Minister Dismisses Opposition Criticism Over Expected Credit Rating Downgrade

Slovak Finance Minister Ladislav Kamenický dismissed opposition criticism regarding the country's budget policy and consolidation efforts following an expected credit rating downgrade. Kamenický stated that the rating reduction was anticipated and would not affect the country's financing capabilities. The minister rejected opposition claims about poor fiscal management and unsuccessful budget consolidation measures. Slovakia has faced ongoing challenges with its public finances, with international rating agencies monitoring the country's fiscal performance and debt levels as the government works to balance economic recovery with budgetary discipline.

TASR/Teraz
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Economy

Global Fashion Giants Report Modest Revenue Growth of Nearly 1% in 2025

The world's 75 largest fashion companies generated combined revenues of 541 billion euros in 2025, marking a modest increase of 0.9 percent compared to the previous year. The relatively small growth rate suggests the global fashion industry faced challenging market conditions, with major retailers and luxury brands experiencing limited expansion despite the sector's massive scale. The data reflects the performance of the industry's biggest players, including multinational fashion conglomerates that dominate retail markets worldwide.

TASR/Teraz
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Economy

EU Car Sales Remain Far Below Pre-Pandemic Levels Despite Recovery

The European Union recorded 2.8 million car sales in the first quarter of 2026, according to industry data. This figure represents a significant decline from pre-pandemic levels, when more than four million vehicles were sold during the first quarter of 2019. The automotive sector continues to face challenges in returning to its pre-COVID performance, with sales remaining approximately 30% below 2019 levels despite seven years passing since the pandemic began.

Aktuality
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Economy

S&P Becomes Third Major Agency to Downgrade Slovakia's Credit Rating

Standard & Poor's has downgraded Slovakia's credit rating, making it the final member of the three major credit rating agencies to reduce the country's assessment. The agency had previously highlighted fiscal risks facing the nation, with concerns now materializing over the spending policies of Prime Minister Robert Fico's government. Slovakia's credit rating has now been reduced by all three major international rating agencies - S&P, Moody's, and Fitch - reflecting growing international concern about the country's fiscal management and economic trajectory under the current administration.

SME
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Economy

Italian Oil and Gas Giant Eni Reports Decline in Third Quarter Profits

Italian energy company Eni reported a drop in adjusted net profit for the third quarter, falling to 1.3 billion euros from 1.41 billion euros in the same period last year. The decline reflects challenging conditions in the global energy sector affecting one of Europe's major oil and gas companies. Eni is among Italy's largest corporations and a significant player in international energy markets, with operations spanning oil and gas exploration, production, refining, and renewable energy development.

SME
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Economy

25 Chinese Car Brands Set to Enter Slovak Market

Twenty-five Chinese automotive brands are preparing to enter the Slovak market, offering well-equipped vehicles at competitive prices. However, from a pricing perspective, these vehicles do not yet make strong economic sense for Slovak consumers compared to existing alternatives.

SME
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Economy

Ryanair to Close Berlin Base Due to High Airport Fees

Budget airline Ryanair announced it will close its operational base in Berlin, citing excessive airport fees as the primary reason for the decision. The Irish carrier will withdraw seven aircraft from the German capital and reduce its flight operations to Berlin by half. The move represents a significant scaling back of Ryanair's presence in one of Europe's major aviation markets, as the airline continues to clash with airports over cost structures that it argues make operations commercially unviable.

SME
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Economy

Economist Recommends Restarting Regional Economy Through Human Capital Investment

An economist has recommended restarting the regional economy primarily through investments in human capital development. The expert emphasized the importance of closer regional cooperation as a key component of economic recovery efforts. The recommendation comes as Slovakia seeks to strengthen its regional economic development strategy through targeted investments in workforce skills and education.

SME
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Economy

Specialized Tunnel Boring Machine Ready for Carpathian Tunnel Project

A custom-built tunnel boring machine capable of advancing 11 meters per day with just 15 operators is being prepared for Slovakia's Carpathian tunnel project. According to a manager from Budimex, the Polish construction company working on the project, the specialized equipment has been manufactured specifically for the tunnel but could also be utilized for other sections of the D1 highway. The Carpathian tunnel is part of Slovakia's ongoing efforts to complete the D1 highway, the country's main east-west motorway connection that has faced decades of construction delays and technical challenges in mountainous terrain.

SME
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Economy

Slovakia's Chemical Sector Struggles with Worker Shortages and Rising Costs

Slovakia's chemical industry is facing significant challenges due to labor shortages and escalating operational costs. Military conflicts in Ukraine and the Middle East are disrupting supply chains and logistics networks, adding pressure to an already strained sector. The chemical industry represents a significant portion of Slovakia's manufacturing base, with major facilities concentrated in regions like Bratislava and eastern Slovakia. These disruptions come at a time when European chemical companies are already grappling with higher energy costs and increased competition from global markets.

SME
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Economy

Developer Lucron Begins Construction of Major Rental Housing Project in Bratislava

Lucron has started construction of two residential buildings in Bratislava's Petržalka district that will contain over 300 rental apartments, making it the first developer in the Slovak capital to remain as the investor in an entire rental housing complex. The project, called Nesto, represents the first major commercial rental housing development in Bratislava designed from the outset for long-term rental rather than sale. The development comes as Slovakia faces a housing affordability crisis, particularly in Bratislava where property prices have surged in recent years. While the Slovak government has prepared support schemes to encourage rental housing construction, Lucron's project is proceeding without state assistance, indicating growing private sector interest in the rental market as an alternative to traditional buy-to-sell development models.

Dennik N
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Economy

Slovak Travel Agencies Hold Prices Despite Doubling Aviation Fuel Costs

Slovak travel agencies have not yet passed on doubled aviation fuel costs to customers booking summer vacation packages, despite jet fuel prices rising dramatically since the Middle East conflict began. The agencies are absorbing the increased costs due to existing contracts with airlines and weaker sales before the main tourist season. If fuel prices remain elevated, travelers may see fewer cheap last-minute deals or modest price increases of around 50 euros per trip. The aviation fuel price surge has doubled since the start of the Middle East conflict, but tour operators are delaying price adjustments to maintain competitiveness during the crucial pre-summer booking period.

Dennik N
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Economy

Kia Reports Sharp Profit Drop Despite Record Revenue Growth

South Korean automaker Kia announced a significant decline in profits despite achieving record revenue levels. The company attributed the profit drop to external factors, including the impact of American tariffs and consequences from the ongoing Middle East conflict. While the company's sales reached new highs, these external pressures weighed heavily on its bottom line, highlighting how global trade tensions and geopolitical conflicts are affecting major automotive manufacturers.

SMETASR/Teraz
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Economy

Million-Euro Battery Storage Facility Launches in Eastern Slovakia

Slovakia's state-owned gas company SPP has connected a battery storage facility worth over one million euros to the electrical distribution grid in Spišská Belá, a town in eastern Slovakia. The facility is expected to receive final approval and commissioning in the coming days. SPP, which is Slovakia's dominant natural gas supplier and is majority-owned by the state, has been diversifying its operations beyond traditional gas services as the country works to modernize its energy infrastructure and reduce dependence on fossil fuels.

TASR/Teraz
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Economy

Condom Prices to Rise at Least 30 Percent Due to War in Iran

Condom prices in Slovakia will increase by at least 30 percent due to supply chain disruptions caused by the war in Iran. The conflict has created shortages of raw materials and chemicals essential for condom production, forcing manufacturers to raise prices significantly. The price increase reflects broader supply chain challenges affecting various industries as geopolitical conflicts disrupt global trade routes and manufacturing processes.

SME
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