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Last refreshed: 20/06/2026 15:42 · 49 articles added
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Economy

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Economy

Slovakia moves closer to approving major waste incineration plant as ministry allows record foreign waste imports

An expert assessment commissioned by Slovakia's Ministry of Environment has recommended approval for a major waste incineration plant planned by Slovnaft, the country's largest oil refinery. The facility would become Slovakia's biggest waste processing plant with a capacity of 220,000 tons annually. Critics worry the project will lead to increased waste imports from Hungary and worsen air pollution. The development comes as Slovnaft, owned by Hungarian energy giant MOL, adapts its business model after losing access to advantageous Russian oil imports due to EU sanctions. Meanwhile, the Environment Ministry under Tomáš Taraba has approved record levels of waste imports from abroad, raising concerns about Slovakia becoming a dumping ground for foreign waste.

Dennik N
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Economy

Slovak Environment Ministry Backs Slovnaft's Major Waste Incineration Plant Project

An expert assessment commissioned by Slovakia's Environment Ministry has recommended approval for Slovnaft's planned waste incineration facility, bringing the project significantly closer to realization. The proposed plant would become Slovakia's largest waste processing facility with a capacity of 220,000 tons annually. The facility represents a strategic shift for Slovnaft, the Slovak oil refinery owned by Hungary's MOL Group, as it seeks new revenue streams after losing access to advantageous Russian oil supplies due to EU sanctions. Critics have raised concerns about the plant potentially importing waste from Hungary and contributing to increased pollution in the region. The Environment Ministry, led by Minister Tomáš Taraba, has simultaneously approved record levels of waste imports from abroad, adding to environmental concerns about the country's waste management policies.

Dennik N
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Economy

Piešťany tourism organization distributes over €130,000 among 31 cultural projects

The Regional Organization of Tourism Piešťany has allocated more than €130,000 in funding across 31 cultural and event projects this year. The tourism organization, which promotes the western Slovak spa town, received a total of 44 applications from organizers of both traditional and new events seeking financial support. The funding distribution represents the organization's effort to support local cultural activities and events that contribute to the region's tourism appeal.

TASR/Teraz
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Economy

Slovakia Records Steepest Decline in Consumer Spending Across Eurozone

Slovakia experienced the sharpest drop in consumer spending among eurozone countries, with people increasingly reluctant to make purchases. Online retail sales suffered the most severe decline, reflecting broader economic uncertainty affecting household spending patterns. The development highlights Slovakia's economic challenges as consumers tighten their belts more dramatically than their counterparts elsewhere in the 19-nation eurozone currency bloc.

SME
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Economy

Slovakia Requires Investors to Report Global Investment Income in Tax Returns

Slovak investors must declare all worldwide investment income in their tax returns, including profits from foreign investments, according to tax regulations. Capital gains from exchange-traded funds (ETFs) held for more than one year are exempt from taxation, while shorter-term holdings and other investment income remain subject to tax obligations. The requirement covers various investment vehicles including stocks, ETF funds, dividends, and other securities, as well as cryptocurrency investments. Tax authorities emphasize that investors who made investments last year should verify their reporting obligations for the current tax filing period.

Dennik N
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Economy

Opposition Party Warns of Billions in Lost EU Funds for Eastern Slovakia

Freedom and Solidarity (SaS), a liberal opposition party in Slovakia's parliament, has warned that eastern Slovakia could lose billions of euros in European Union funding due to government inaction. The party pointed to the current government's failure to take necessary steps to secure these funds, though specific details about which programs or deadlines are at risk were not provided. Eastern Slovakia, which includes cities like Košice and surrounding regions, has historically been one of the country's main beneficiaries of EU structural and cohesion funds aimed at reducing regional disparities and promoting economic development. The warning comes amid ongoing political tensions between the opposition and the ruling coalition led by Prime Minister Robert Fico's Smer-SD party.

Korzár
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Economy

Slovaks Purchase €337 Million in Government Bonds in First Three Days of Sales Launch

Slovak citizens purchased €337 million worth of government bonds during the first three days after the state launched its bond sales program. The bond offering will continue until it reaches its target value of €500 million. The program allows individual Slovak citizens to invest directly in government debt securities, representing a significant uptake in domestic investment appetite for state-issued financial instruments.

SME
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Economy

Polish Grocery Chain Biedronka Struggles to Impact Slovak Market After One Year

Polish discount grocery chain Biedronka has completed its first year of operations in Slovakia with limited success, according to market analysts who describe the results as disappointing. The retailer, owned by Portuguese group Jerónimo Martins, has made minimal impact on grocery prices in the Slovak market despite expectations that its arrival would increase competition and drive down costs for consumers. Biedronka chose an unconventional expansion strategy, opening stores first in smaller towns and villages rather than major cities like Bratislava or Košice. This approach differs from typical retail market entries where chains establish flagship stores in urban centers to build brand recognition before expanding to rural areas. The company's struggles highlight the challenges foreign retailers face when entering established markets, particularly in Central Europe where local chains and international competitors like Tesco, Kaufland, and Lidl already have strong footholds.

Aktuality
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Economy

Slovak Tax Authority Raids Companies Suspected of Tax Fraud

Slovakia's Financial Administration conducted raids at companies suspected of tax fraud, seizing accounting documentation from the targeted firms. The Regional Financial Directorate simultaneously issued preliminary asset seizure orders against the companies' property as part of the investigation.

TASR/Teraz
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Economy

Tax Authority Conducts 'SIMULATOR' Operation Against Luxury Car Fraud in Banská Bystrica Region

Slovakia's Financial Administration launched a major operation codenamed 'SIMULATOR' targeting fraudulent schemes involving luxury vehicles in the Banská Bystrica region. The tax authority conducted coordinated raids as part of an investigation into suspected tax evasion and illegal activities connected to high-end automobile transactions. The Financial Administration, which oversees tax collection and customs enforcement in Slovakia, stated it will continue proceedings in accordance with current legislation. The operation represents part of ongoing efforts by Slovak authorities to crack down on sophisticated tax fraud schemes, particularly those involving expensive assets like luxury cars that are often used to evade duties and taxes.

Aktuality
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Economy

Analysts recommend prioritizing Sekule-Rakvice section for high-speed rail link to Czech Republic

Slovak government analysts have recommended prioritizing the Sekule-Rakvice section for the planned high-speed railway connection between Slovakia and the Czech Republic. The recommendation comes from the Value for Money Unit, a government analytical body that evaluates major infrastructure projects. The analysts also propose increasing the capacity of the Bratislava rail hub as part of the broader railway modernization effort. The high-speed rail project aims to improve transportation links between the two neighboring countries, with the Sekule-Rakvice stretch identified as the most strategically important segment for initial development.

SME
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Economy

Slovak Home Renovation Market Shows Strong Growth as Investment in Housing Increases

Slovakia's home renovation and reconstruction services market has experienced significant growth in recent years, reflecting increased investment by Slovaks in their residential properties. The expanding market indicates rising consumer confidence in home improvement projects and suggests a strengthening domestic construction sector. This trend aligns with broader European patterns of homeowners prioritizing property upgrades and modernization, particularly following the pandemic period when people spent more time at home.

Aktuality
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Economy

Slovakia launches new tender for completion of D1 highway section Turany-Hubová

The National Motorway Company has announced a new tender for completing the D1 highway section between Turany and Hubová, with an estimated value of 1.57 billion euros excluding VAT. The project is expected to take seven years to complete. The D1 is Slovakia's main east-west highway corridor, connecting Bratislava with eastern regions of the country, and this section represents one of the remaining gaps in the motorway network that has faced repeated delays and complications over the years.

SME
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Economy

Slovak Company Bankruptcies Rise 25% in February Compared to Previous Year

Twenty-seven companies filed for bankruptcy in Slovakia during February, representing a 25% increase compared to the same month last year. Industrial sector companies accounted for a significant portion of the bankruptcies. The rise in corporate failures reflects ongoing economic pressures facing Slovak businesses, with manufacturing and industrial enterprises particularly affected by challenging market conditions.

SME
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Economy

Samsung Exit Highlights Slovakia's Knowledge Economy Challenge

Samsung's departure from Slovakia underscores a deeper structural problem with the country's economic development strategy, according to analysts. Even if Slovak political elites agreed today that building a knowledge-based economy should be the nation's priority, the first significant results would likely not emerge until around 2060. The assessment highlights the long-term nature of economic transformation and suggests Slovakia faces substantial challenges in transitioning from its current economic model to one based on higher-value activities and innovation.

Dennik N
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Economy

Slovak Designer in Netherlands Says Home Furnishing Prices Now Similar to Slovakia

A Slovak designer living in the Netherlands says prices for home furnishing are now comparable between the two countries, with some materials actually more expensive in Slovakia. Katarína Stupavská, who moved to the Netherlands as a teenager 22 years ago, has built a career progression from fashion print design to hotel wallpaper design and now runs her own interior design studio. She observes that the cost of furnishing homes has reached similar levels in both countries, noting no significant financial difference when comparing current price developments between Slovakia and the Netherlands.

Dennik N
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Economy

Slovakia's Debt Burden Grows Under Fico Government as Billions Go to Interest Payments

Slovakia is accumulating increasingly larger loans under Prime Minister Robert Fico's government, with billions of euros being diverted to debt service payments rather than essential public services. The growing debt burden means that substantial financial resources that could have been allocated to hospitals and schools are instead being used to pay interest on existing loans. This trend is raising concerns about Slovakia's fiscal trajectory and the government's ability to maintain adequate funding for critical public infrastructure and services while managing its escalating debt obligations.

SME
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Economy

Poland Sets Tourism Record in Slovakia with Nearly 400,000 Visitors in 2025

Slovakia welcomed a record number of Polish tourists in 2025, with visitor numbers approaching the 400,000 mark. The milestone represents a significant increase in cross-border tourism between the two neighboring Central European nations, highlighting Slovakia's growing appeal as a destination for Polish travelers.

SME
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Economy

Middle East War Could Drive Fuel Prices Above €1.60 Per Liter, Threaten Slovak Inflation Targets

The ongoing war in the Middle East threatens to push gasoline and diesel prices above €1.60 per liter in Slovakia, with potential spillover effects on gas and electricity costs. The conflict has created the most significant energy market tensions since Russia's invasion of Ukraine in 2022. If the crisis persists, inflation may fail to drop below 4 percent, derailing Slovakia's economic recovery plans. Energy analysts warn that rising gas prices in Europe could trigger a new inflationary spiral, potentially forcing central banks to reconsider interest rate policies. The situation highlights Slovakia's vulnerability to global energy shocks, particularly given its dependence on imported fossil fuels and the broader European energy market dynamics.

Dennik N
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Economy

Iran conflict threatens to raise fuel prices above €1.60 per liter in Slovakia

Gasoline and diesel prices in Slovakia could rise above €1.60 per liter as the Middle East conflict creates the biggest energy market tensions since Russia's invasion of Ukraine in 2022. The war against Iran is expected to increase fuel costs, with natural gas and electricity potentially following suit. Economic analysts warn that if the crisis persists, inflation may fail to drop below 4 percent, potentially triggering a new inflationary spiral across Europe. In the worst-case scenario, the energy price surge could also lead to increased interest rates, adding further pressure to the Slovak economy.

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