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Last refreshed: 07/06/2026 15:41 · 49 articles added
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Economy

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Economy

Chinese Automaker Chery Enters Slovak Market with Hybrid SUV Models

Chinese automotive manufacturer Chery will launch its brand in Slovakia starting April 16, bringing hybrid SUV models to the Slovak market. The company, which operates in more than 130 countries worldwide and has millions of customers globally, will introduce its Tiggo SUV series featuring hybrid technology, comprehensive standard equipment, and competitive pricing. The market entry represents the latest expansion of Chinese automotive brands into European markets, as manufacturers seek to capitalize on growing demand for hybrid and electric vehicles.

Aktuality
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Economy

Slovak Retail Sales Continue Decline as Online Shopping Drops Most Sharply

Retail sales in Slovakia continue to fall as consumers tighten their spending, according to industry leaders. Online retailers are experiencing the steepest declines, while the hotel sector remains the only area showing growth. The ongoing downturn reflects broader economic pressures forcing Slovak households to reduce discretionary spending across most retail categories.

SME
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Economy

Slovak developer Immocap sells landmark Bratislava office building The Mill to major Czech investment fund

Developer Immocap has sold The Mill, a prominent office building on Mlynské nivy boulevard in Bratislava, to REICO LONG LEASE, a Czech investment fund operated by Erste Asset Management. The transaction represents one of Slovakia's largest real estate deals of the year and forms part of a broader agreement between the two companies. The Mill is considered an iconic building in Bratislava's commercial real estate market.

Aktuality
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Economy

Investigation Reveals How Private Label Products Offer Lower Prices in Slovak Stores

Slovak retailers' private label products are consistently cheaper than branded alternatives, prompting consumer interest in understanding the cost differences behind store shelves. The pricing gap between private labels and national brands reflects different manufacturing costs, marketing expenses, and retail margins that consumers are paying for when making purchasing decisions. As household budgets face pressure from inflation and economic uncertainty, Slovak shoppers are increasingly scrutinizing their spending choices and seeking better value for money in grocery stores.

Aktuality
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Economy

Mass Layoffs Hit Major Software Company in Eastern Slovakia

A well-known software company in Košice has carried out mass layoffs, with employees learning about their terminations through a company newsletter. The Central Office of Labor and Social Affairs, Slovakia's employment agency, confirmed the large-scale dismissals to local media. Košice, Slovakia's second-largest city and the economic hub of eastern Slovakia, hosts numerous technology companies that have become important employers in the region.

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Economy

Slovakia's Government May Be Forced to Cut 13th Pension This Year Due to Budget Pressures

Slovakia's government faces mounting financial pressure that could force it to reduce or eliminate the 13th pension payment within this year if current spending trends continue. The budget strain exists independently of expensive oil costs, indicating deeper structural fiscal challenges. The 13th pension is an additional annual payment to retirees equivalent to their regular monthly pension, introduced as a social benefit but representing a significant budget expense. Any reduction of this payment would likely trigger strong public backlash, as pensions remain a highly sensitive political issue in Slovakia where retirees form a substantial voting bloc.

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Economy

Thermal Insulation Materials Rise in Price by Tens of Percent

Construction thermal insulation materials have increased in price by tens of percent in Slovakia, with suppliers adjusting their price lists more than five times within just three weeks. The rapid price fluctuations reflect broader instability in the construction materials market, affecting both commercial builders and individual homeowners undertaking renovation projects. The frequent price adjustments indicate ongoing supply chain pressures or raw material cost increases impacting the construction industry.

SME
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Economy

Global Public Debt Reaches Nearly 94 Percent of GDP as Countries Show Limited Action on Reduction

Global public debt surged to nearly 94 percent of gross domestic product last year, according to new data highlighting the mounting fiscal challenges facing governments worldwide. The increase reflects a broader pattern of insufficient action by countries to address their growing debt burdens. The rising debt levels come amid ongoing economic pressures from inflation, geopolitical tensions, and the lingering effects of pandemic-era spending, creating concerns about long-term fiscal sustainability for many nations.

SME
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Economy

Figaro confectionery company to lay off workers in Trnava, relocate production to Czech Republic

The well-known confectionery company Figaro announced plans to close its production facility in Trnava, western Slovakia, and relocate manufacturing operations to the Czech Republic. The company justified the decision as part of a "strategic reassessment of business activities in the region," though specific details about the number of affected workers or the timeline for the closure were not immediately provided. Trnava, an industrial city located about 50 kilometers northeast of Bratislava, has been a significant manufacturing hub in Slovakia, making the plant closure a notable economic development for the region.

Aktuality
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Economy

Slovakia Secures Energy Assistance for Full Year, Economy Ministry Says

Slovakia's Ministry of Economy announced that energy assistance programs are secured for the entire year. The ministry stated that the first review of the assistance measures will take into account data collected through March 31. The energy support scheme represents Slovakia's response to ongoing energy price pressures affecting households and businesses, with the government monitoring the program's effectiveness through quarterly assessments to determine whether adjustments are needed.

SME
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Economy

Polish Contractor Eyes Completion of D1 Highway Between Bratislava and Košice

Polish construction company Budimex has confirmed its interest in bidding for the construction of the D1 highway section between Turany and Hubová, potentially bringing more competition to a previously troubled tender process. The new tender for this section of the D1 highway, which forms part of the crucial route connecting Slovakia's capital Bratislava with the eastern city of Košice, may attract stronger competition than its predecessor. The previous tender was cancelled after only two bidders participated, raising concerns about complications and cost overruns. Budimex is considering purchasing specialized tunneling equipment from China if it wins the contract, suggesting the project involves significant underground construction work. The D1 highway represents Slovakia's most important east-west transport corridor, and its completion has been a long-standing infrastructure priority for connecting the country's two largest cities.

Dennik N
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Economy

Slovak Businesses Consider Relocating Abroad as Competitiveness Declines, Expert Warns

Slovakia faces a growing exodus of businesses as companies beyond major manufacturers like Samsung are considering relocating abroad, according to economic analyst Andrej Lasz. The trend extends to small and medium-sized enterprises, representing a dangerous development for the Slovak economy. Lasz warns that Slovakia is no longer just competing with cheaper Asian markets or the United States, but is losing its competitive edge more broadly. The potential departure of domestic businesses adds to concerns about Slovakia's economic attractiveness, following high-profile cases of foreign investors reconsidering their operations in the country. This broader pattern of business departures could undermine Slovakia's economic stability and employment, particularly as it affects the backbone of the economy - small and medium enterprises that typically provide significant local employment and contribute to regional development.

SME
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Economy

German Winkelmann Group Plans to Open Factory in Rimavská Sobota in June

German family-owned manufacturing company Winkelmann Group announced plans to open a new factory in Rimavská Sobota in June. The company, which has a long-standing tradition in mechanical engineering and machinery production, is establishing operations in the southern Slovak town. Rimavská Sobota, located in the Banská Bystrica region near the Hungarian border, has been working to attract foreign investment to boost economic development in the area. The planned opening represents part of Slovakia's continued efforts to attract German manufacturing companies, which have been significant contributors to the country's industrial sector and employment market.

TASR/Teraz
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Economy

Flight Prices Rise Over 20 Percent with Special Surcharges as Slovaks Face Higher Holiday Costs

Flight prices for Slovak travelers have increased by more than 20 percent, with airlines imposing special fuel surcharges of up to 50 euros per ticket. The price increases are driving up the overall cost of vacations for Slovak consumers, adding significant expense to holiday travel plans. The fuel surcharges represent an additional burden on top of the already substantial base price increases, affecting both domestic and international travel from Slovakia.

SME
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Economy

Slovakia's inflation drops to 15-month low in March at 3.5 percent

Slovakia's inflation rate fell to 3.5 percent in March, reaching its lowest level in 15 months in a development that surprised economists. The decline was driven primarily by lower food prices and what analysts termed the "Easter effect," a seasonal adjustment that typically occurs during the spring holiday period. The slowdown in price growth also benefited from the delayed impact of the Middle East crisis on energy markets, as fuel price increases had not yet fully materialized in consumer costs. However, economists warn this trend will likely reverse in April as rising fuel prices begin to affect broader consumer costs, potentially pushing inflation higher in the coming months.

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Economy

Eurozone and EU Industrial Production Rises in February After January Decline

Industrial production in the eurozone and across the European Union increased in February, recovering from significant declines the previous month. The eurozone had experienced a 0.8 percent month-on-month drop in January, while the broader EU saw production fall by 0.9 percent during the same period. Slovakia also participated in the February recovery, with its industrial output growing compared to January levels. The February upturn represents a rebound for European manufacturing after the winter contraction, though the data reflects the ongoing volatility in industrial activity across the continent.

SMETASR/Teraz
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Economy

Major Slovak automotive supplier reports 12 million euro loss amid falling orders

A major Slovak automotive company has fallen into a 12 million euro loss and begun laying off workers as it struggles with declining orders. The automotive giant, which employs thousands of people, has been particularly impacted by challenges related to Tesla and broader shifts in the automotive industry. The company's steep financial decline highlights the pressures facing Slovakia's automotive sector, which is a crucial pillar of the country's economy and one of Europe's largest car manufacturing hubs per capita.

SME
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Economy

Slovakia's Social Security Agency to Send Pension Projections Warning of Significant Income Drop in Retirement

Slovakia's Social Security Agency will soon begin sending pension projections to its policyholders, revealing forecasts that may shock many Slovaks about their retirement prospects. The projections indicate that citizens who expected the state to provide adequate retirement support will face a harsh reality, with data showing a significant drop in living standards during retirement without additional personal savings or investments. The estimates suggest that relying solely on state pensions will not maintain current quality of life for most workers, challenging widespread assumptions about retirement security in Slovakia.

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Economy

Eastern Slovakia Faces Labor Shortage Despite AI Job Displacement Concerns

While global discussions focus on artificial intelligence potentially replacing workers and eliminating jobs, eastern Slovakia confronts a different challenge. The region struggles to find skilled workers who speak foreign languages and are willing to remain in the area. This labor shortage highlights a contrasting regional reality where the concern is not about AI displacing workers, but rather about attracting and retaining qualified personnel in Slovakia's eastern regions.

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Economy

Slovak Footwear Company Gabor Denies Mass Layoff Reports, Announces Production Changes

Management at Gabor, a footwear company based in Bánovce nad Bebravou in western Slovakia, has denied reports of planned mass layoffs while confirming organizational changes to its operations. The company will transition from a two-shift to single-shift production system starting in September, according to media advisor Adriana Bednárová. The change will affect only a small number of jobs, with the transition from the current two-shift regime planned to occur gradually over the coming months. Gabor is a significant employer in the region, making any operational changes closely watched for their potential impact on local employment.

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