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Economy

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Economy

Major Manufacturing Plant in Eastern Slovakia Employs Hundreds Before Production Begins

A major industrial facility in eastern Slovakia has hired hundreds of employees even before beginning production operations, representing one of the largest investments in the region. The workforce is split evenly between production and administrative roles, with administrative staff comprising half of all current employees. The facility's early hiring phase demonstrates the scale of the investment and its anticipated impact on employment in eastern Slovakia's industrial sector.

Korzár
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Economy

Košice Volvo Plant Sends First Car Bodies to Sweden for Testing as Production Robots Begin Welding

Volvo's manufacturing facility in Košice has begun robotic welding operations and shipped the first car bodies to Sweden for testing, marking a significant milestone in the plant's production ramp-up. The facility is transporting workers to the site by bus as operations expand. The Košice plant represents a major automotive investment in eastern Slovakia, where Volvo is establishing production capacity to serve European markets. This development signals the plant is moving from initial setup phases toward full-scale vehicle manufacturing.

Korzár
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Economy

Highway Construction Projects Face Delays as Slovakia Advances Infrastructure Development

Slovakia's highway authority NDS announced plans to complete a section of the D1 highway near Ružomberok during the summer months. Meanwhile, construction of the second phase of the northern bypass around Prešov on the R4 expressway, spanning more than 10 kilometers, is expected to face delays of approximately six months according to highway officials' projections. The R4 expressway project represents part of Slovakia's broader effort to improve transportation infrastructure in the eastern regions of the country, connecting major population centers and facilitating economic development.

TASR/Teraz
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Economy

Vranov nad Topľou Prepares Project to Support Local Producers

The eastern Slovak town of Vranov nad Topľou is developing a project aimed at supporting local producers and promoting agricultural retail development in the cross-border region. The initiative focuses on strengthening the local economy by assisting small-scale producers and enhancing agricultural commerce across the area that spans the Slovak border with neighboring countries. Vranov nad Topľou, located in the Prešov region near the Ukrainian border, is positioning itself as a hub for regional agricultural development through this cross-border cooperation project.

TASR/Teraz
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Economy

Slovak farms sold 75,800 lambs for meat processing in past year

Slovakia's Statistical Office reported that farms across the country sold 75,800 lambs for meat processing over the past year. The Banská Bystrica and Prešov regions in central and eastern Slovakia accounted for the largest share of lamb production, contributing 42 percent of all lambs destined for meat processing. The Statistical Office regularly tracks livestock production data as part of monitoring the country's agricultural sector performance.

TASR/Teraz
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Economy

Expert Predicts Motor Insurance Premiums to Rise by More Than 10%

Motor insurance premiums in Slovakia are expected to increase by more than 10%, according to industry experts. Despite the higher costs, insurance specialist Lehocký maintains that comprehensive vehicle coverage remains beneficial for drivers. The price increase reflects broader trends in the insurance sector, where rising repair costs, increased claims frequency, and inflation are putting upward pressure on premiums across the automotive insurance market.

TASR/Teraz
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Economy

Diesel Cars Lose Market Dominance as Electric and Hybrid Vehicle Sales Rise in Slovakia

Diesel vehicles are losing their dominance in Slovakia's used car market as consumer preferences shift toward electric and hybrid vehicles. Sales data shows declining interest in diesel-powered cars, which have traditionally held a strong position in the Slovak automotive market. The trend reflects broader changes in consumer behavior, with buyers increasingly choosing environmentally-friendly alternatives. Station wagon variants are also seeing reduced demand as part of the overall market transformation in the country's automotive sector.

SME
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Economy

OMV Prepares Green Hydrogen Production at Romanian Refinery

Austrian energy company OMV has begun preparations for green hydrogen production at its Petrobrazi refinery in Romania, with the first electrolyzer module arriving at the facility. The development represents part of the energy sector's broader shift toward renewable energy sources and carbon-neutral fuel alternatives. Green hydrogen, produced through electrolysis using renewable electricity to split water molecules, is considered a key technology for decarbonizing industrial processes and reducing emissions in the energy sector.

SME
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Economy

Slovak Employers' Union Warns Iranian Conflict Threatens Economic Competitiveness

The Republican Union of Employers (RÚZ), Slovakia's main business lobby group, has identified the Iranian conflict as a major geopolitical risk that directly undermines competitiveness across the European Union. The organization warned that the ongoing tensions are driving up costs for energy, logistics, and financing throughout the EU bloc. The employers' union's assessment highlights how regional conflicts in the Middle East are creating economic pressures that extend far beyond the immediate conflict zone, affecting business operations and costs across European markets including Slovakia.

TASR/Teraz
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Economy

Slovak Workers Cut Back on Restaurant Meals as Economic Pressures Mount

A new survey reveals that approximately 40 percent of Slovak workers have stopped using restaurants for their meals, choosing instead to cook at home as a cost-saving measure. The shift reflects growing economic pressures on household budgets, with employees increasingly looking for ways to reduce their daily expenses. The trend represents a significant change in dining habits that could impact the restaurant industry's revenue, particularly during lunch hours when many establishments traditionally rely on office workers for steady business.

SME
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Economy

Slovakia Reports High Egg Consumption Despite Rising Prices

Slovak residents consume an average of 213 eggs per year, according to new consumption data. The figures come as egg prices have risen significantly, with ten medium-sized chicken eggs costing an average of 2.70 euros in February 2026. The consumption rate reflects Slovaks' continued reliance on eggs as a dietary staple despite the increased cost, which represents a notable price increase for this basic food commodity.

SME
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Economy

Consumer Credit Growth in Slovakia Outpaces EU Average

Consumer lending in Slovakia is expanding at a faster rate than the European Union average, according to new data. The growth comes amid concerning trends in loan performance, with the share of non-performing loans increasing in the industrial and commercial sectors. This development highlights potential risks in Slovakia's credit market as borrowing accelerates beyond regional norms while certain business sectors show signs of financial stress.

SME
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Economy

Northern D1 Highway Completion Delayed Until 2026 as Costs Soar and Key Tender Cancelled

Slovakia's completion of the northern section of the D1 highway has been pushed back to 2026 following the cancellation of a crucial tender for the final missing segment. The delay affects the completion of the country's main east-west highway corridor, which connects Bratislava to the eastern regions. The setback comes as costs for the Ružomberok bypass have tripled from original estimates due to challenging terrain and landslide issues in the mountainous region. The cancelled tender for construction near Turany represents a billion-euro project that was essential for completing the final gap in the D1 network. The D1 highway serves as Slovakia's primary transport artery, linking the capital with major eastern cities and serving as a key route for international transit traffic through Central Europe.

Aktuality
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Economy

Japanese Rating Agency Confirms Slovakia's A+ Credit Rating with Stable Outlook

A Japanese rating agency has confirmed Slovakia's credit rating at A+ with a stable outlook, maintaining the country's strong investment-grade status. The agency expects Slovakia to reduce its budget deficit in the coming period. The A+ rating places Slovakia among countries with high creditworthiness and low default risk, which helps the government borrow money at favorable interest rates on international markets and signals economic stability to foreign investors.

SME
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Economy

Highway Authority Delays R2 Construction Contracts Until Funding Secured

Slovakia's highway authority will postpone signing construction contracts for two sections of the R2 highway until project financing is guaranteed. The delayed contracts cover the Zacharovce-Bátka and Bátka-Figa sections in the Rimavská Sobota district in southern Slovakia. The R2 highway is part of Slovakia's broader infrastructure development program aimed at improving transportation links between the country's eastern and western regions.

SME
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Economy

Žilina to Invest Over 23 Million Euros in City Development This Year

The northern Slovak city of Žilina will invest more than 23 million euros in development projects this year, according to city officials. The investments will extend beyond Žilina's city center to include projects in the municipality's various districts. Žilina, Slovakia's fourth-largest city with approximately 80,000 residents, serves as the administrative center of the Žilina Region in northwestern Slovakia and is an important industrial and transportation hub connecting the country to Poland and the Czech Republic.

TASR/Teraz
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Economy

Tesla Global Sales Rise 6.3% in First Quarter to 358,023 Vehicles

Tesla reported global vehicle deliveries of 358,023 units in the first quarter, representing a 6.3% increase from the same period last year. Despite this year-over-year growth, the electric vehicle manufacturer sold approximately 29,000 fewer cars in the first three months of 2025 compared to the same period in 2024, indicating some volatility in quarterly performance even as the company maintains overall upward trajectory in sales.

TASR/Teraz
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Economy

Slovak Railways Awards Major Contract for Railway Modernization in Spiš Region

Slovak Railways has selected a winner for a major tender to modernize railway infrastructure in the Spiš region of eastern Slovakia. The project involves upgrading the railway line between Poprad and Krompachy, two key towns in the region, at a cost of nearly half a billion euros. The modernization is part of Slovakia's broader effort to improve its railway network and enhance transportation connectivity in the mountainous eastern part of the country. Poprad serves as an important gateway to the High Tatras mountains and tourist destinations, while the upgraded line will improve both passenger and freight transport in the region.

Korzár
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Economy

Nitra Region Joins Cross-Border Tourism Development Project with Hungarian Partner

The Nitra Region in western Slovakia will join a tourism development project in partnership with Hungary's Pest County. The Slovak regional government announced it will contribute 4,880 euros to the initiative, with the Hungarian partner county providing an equal amount. The project represents part of ongoing cross-border cooperation efforts between Slovakia and Hungary to boost tourism in the region.

TASR/Teraz
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Economy

Price Gap Between Older and Renovated Apartments in Slovakia Widens to 30 Percent

The price difference between older and renovated apartments in Slovakia has grown significantly, reaching up to 30 percent in some cases. Property buyers are increasingly factoring in total housing costs when making purchase decisions, rather than focusing solely on the initial purchase price. This shift in buyer behavior reflects growing awareness of the long-term financial implications of property maintenance, energy efficiency, and renovation needs in older buildings.

SMETASR/Teraz
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