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Last refreshed: 07/06/2026 21:40 · 36 articles added
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Economy

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Economy

Housing Prices in Slovakia Surge 123 Percent Over Past Decade

Housing prices in Slovakia have increased by 123 percent over the past ten years, nearly double the European Union average of 64.9 percent. The dramatic price surge affects both houses and apartments across the country. While Slovakia experienced this exceptional growth in property values, rental prices across the EU rose by a more modest 21.8 percent during the same period. The significant price increases place Slovakia among the countries with the steepest housing cost inflation in Europe, potentially creating affordability challenges for homebuyers in the Central European nation.

SME
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Economy

Finance Minister Proposes Scrapping VAT Deduction for IT, Advertising and Consulting Services

Slovakia's Finance Minister Ladislav Huliak announced plans to eliminate VAT deductions for IT services, advertising, and consulting, claiming the move would combat tax fraud. Huliak argued that VAT fraud costs each Slovak family over 600 euros annually, justifying the proposed tax policy change. The proposal represents a significant shift in Slovakia's tax framework that would affect major service sectors and potentially increase costs for businesses operating in these industries.

SME
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Economy

Ukrainian Workers in Slovakia Generate More Revenue Than Cost of Refugee Aid

Ukrainian workers employed in Slovakia will generate higher revenues for public finances than the country spent on refugee assistance since Russia's invasion began in 2022. A government analysis and estimates from the Council for Budget Responsibility show the economic contribution of this group is substantial. The Council for Budget Responsibility is Slovakia's independent fiscal watchdog that monitors government spending and economic policy. Since the Russian invasion of Ukraine in February 2022, Slovakia has provided various forms of assistance to Ukrainian refugees, including housing, healthcare, and social services. The analysis suggests that tax revenues and social contributions from employed Ukrainians are now exceeding the total costs of the refugee support programs.

Košice Dnes
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Economy

Hotels at Zemplín Reservoir and Tokaj Reach Full Capacity During Easter Holiday

Hotels around Slovakia's Zemplín Reservoir and the historic Tokaj wine region reported full occupancy during the Easter holiday period. The tourism operators also indicated they are prepared for the first wave of weekend stays as the spring tourist season begins. The Zemplín Reservoir, known as the "Slovak Sea," is a popular domestic destination in eastern Slovakia, while the Tokaj region spans both Slovakia and Hungary and is renowned for its UNESCO-listed wine cultural landscape.

TASR/Teraz
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Economy

Austrian Producer Prices Hit Three-Year High in March

Austrian producer prices reached their highest growth rate in three years during March, marking the sharpest increase since February 2023. The acceleration in manufacturing costs reflects broader inflationary pressures affecting Austria's industrial sector and could signal potential price increases for consumers in the coming months.

SME
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Economy

Slovak Tax Authority Launches Electronic Invoicing Project for Businesses

Slovakia's Financial Administration has launched a new electronic invoicing project that will require businesses to transition from paper to digital billing systems. The new regulations, stemming from European Union legislation, will affect both VAT-registered companies and individual entrepreneurs who will be required to receive invoices in digital format. The Financial Administration is Slovakia's tax collection agency responsible for implementing tax policy and ensuring compliance with fiscal regulations across the country.

Aktuality
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Economy

Samsung Estimates Sharp Year-on-Year Profit Surge

Samsung Electronics announced preliminary estimates showing its first-quarter profit surged 755 percent compared to the same period last year. The South Korean technology giant's dramatic profit increase reflects a strong recovery in the global semiconductor market and robust demand for memory chips used in artificial intelligence applications and data centers.

SME
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Economy

Slovak Labor Offices Restart Requalification Program Funding After December Hiatus

Slovakia's Central Labor Office launched three new programs on March 16 that will allow local labor offices to fund educational courses for job seekers. Under the programs, applicants must select both their training course and instructor themselves to receive financial support. The state previously paid for requalification courses for thousands of people through EU funds last year, teaching skills such as computer literacy, accounting, and other professional capabilities. The programs had been suspended in December, leaving job seekers without access to state-funded training until the March restart.

Dennik N
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Economy

Slovak Railways to Spend One Million Euros on Technology for Small Station Serving Few Daily Trains

Slovak Railways (ŽSR) will invest one million euros in security equipment and technology for the Tekovské Lužany railway station, which serves only a few passenger trains daily. The small station will receive safety devices that are not available even in major regional centers like Nitra and Topoľčany. The investment will also include new traffic signals, which were not funded for the much busier Pezinok station near Bratislava. The spending allocation highlights questions about infrastructure investment priorities within Slovakia's state-owned railway network, as a remote station with minimal traffic receives advanced equipment while larger transportation hubs lack similar technology.

Dennik N
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Economy

Slovak News Website Opens Digital Advertising to Small and Medium Businesses

A major Slovak news website has expanded its advertising opportunities to include small and medium-sized businesses, moving beyond its traditional focus on large brand advertisers. The platform now offers regional targeting options that allow local businesses such as bakeries and service providers to reach specific geographic audiences. According to the news site, small businesses benefit not only from reaching potential customers but also from associating their brand with a trusted news environment, which can enhance credibility and customer trust.

Aktuality
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Economy

Slovak Workers Face Tax Penalties for Taking Second Jobs Due to Government Consolidation

Slovak workers who took second jobs to support their families during government budget consolidation measures are now facing financial penalties from the country's tax system. Three working Slovaks have shared their experiences of how additional employment has resulted in higher tax burdens, creating a situation where increased effort to earn more income actually leaves them with less money. The workers question whether they should resort to undeclared work, highlighting flaws in Slovakia's tax structure that appears to punish those trying to work more to make ends meet during economically challenging times.

Aktuality
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Economy

Water Level at Reservoir to Determine Whether Season Will Be Devastating for Local Businesses

Water levels at a Slovak reservoir will determine whether the upcoming season proves catastrophic for local businesses that depend on the water body. The previous season was unsuccessful for entrepreneurs operating in the area, leaving them vulnerable to further losses if water conditions remain unfavorable. Business operators who rely on the reservoir for tourism, recreation, or other water-dependent activities are anxiously awaiting water level measurements that will indicate whether they can expect viable operating conditions.

Korzár
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Economy

Domaša Reservoir Water Level Slowly Rising After Critical Year, But Tourism Operators Remain Concerned

The Domaša reservoir in eastern Slovakia is gradually recovering from critically low water levels that plagued the area over the past year, but local business owners and cottage operators continue to express concerns about the upcoming season. The reservoir, one of Slovakia's largest artificial lakes and a popular tourist destination, experienced severe water shortages that significantly impacted the local tourism industry. Business operators are hoping the current season will help them recover from the financial losses they sustained during the water crisis. Despite the slowly rising water levels, uncertainty remains about whether the recovery will be sufficient to restore normal operations for the businesses that depend on the lake for their livelihood.

Korzár
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Economy

Diesel Prices in Germany Break Records, Reach Nearly 2.49 Euros Per Liter

Diesel fuel prices in Germany have reached record highs, climbing to nearly 2.49 euros per liter. The sharp increase represents a significant jump from just one week earlier, when the average price of diesel stood at 2.295 euros per liter on March 30. The dramatic price surge reflects broader energy market volatility affecting fuel costs across Europe.

TASR/Teraz
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Economy

Many Workers in Slovakia Employed Outside Their Qualifications, New Digital Tool Aims to Help

Many people in Slovakia are working in positions that do not match their qualifications, with the situation being most pronounced among workers from countries outside the European Union. A new digital tool has been developed to help address this skills mismatch by assisting workers in finding employment opportunities better suited to their educational background and professional experience. The initiative targets the widespread problem of overqualification and underemployment that affects the Slovak labor market, particularly impacting foreign workers who may face additional barriers in having their credentials recognized or finding appropriate career paths.

SME
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Economy

Gold Price Drops Slightly, Trading Below $4,660 Per Ounce

Gold prices declined modestly in recent trading, falling below the $4,660 per ounce level. The precious metal continues to be influenced by elevated oil prices, which affect investor sentiment and commodity markets more broadly. The fluctuation reflects ongoing market dynamics between energy costs and safe-haven asset demand.

SME
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Economy

Oil Prices Fall as Brent Crude Drops to $107.50 Per Barrel

Oil prices declined with Brent crude sliding to $107.50 per barrel. Market conditions remain volatile and frequently shift in response to statements from the U.S. president, reflecting the ongoing sensitivity of energy markets to geopolitical developments and policy signals from major economies.

SME
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Economy

Renovated Dukla Hotel Welcomes Guests After Twenty Years

The Dukla Hotel has reopened to guests following a comprehensive renovation costing more than seven million euros, marking its return to operation after twenty years of closure. The restored hotel now offers accommodation for visitors with 64 beds available. The extensive reconstruction project has brought the historic property back to life, allowing it to resume its role in Slovakia's hospitality sector after two decades out of service.

Aktuality
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Economy

Rising Fuel Prices Drive Increased Interest in Electric Vehicles in Slovakia

Car dealers in Slovakia report a sharp increase in interest in electric vehicles as rising fuel prices push consumers to consider alternatives to traditional combustion engines. Electric cars are becoming increasingly affordable, with annual operating costs potentially hundreds of euros lower than gasoline or diesel vehicles. The growing demand is also being fueled by new, more affordable electric models priced under 30,000 euros entering the market. Consumers considering electric vehicle purchases cite the combination of lower running costs and expanding model availability as key factors in their decision-making process.

Dennik N
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Economy

European Commission Changes Industrial Emissions Rules to Shield Against Price Shocks

The European Commission is modifying emissions trading rules for industry, creating a larger reserve of carbon allowances to protect against price volatility. Under the new system, unused free allowances will remain in a reserve stockpile and be released automatically if carbon prices surge sharply. The changes aim to provide greater price stability in the EU's Emissions Trading System, which covers major industrial facilities across the bloc. The reserve mechanism represents a response to concerns about carbon price spikes that could harm industrial competitiveness and economic stability.

SME
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