Articles

Government promises balanced budget by 2015

Slovak government has two goals - to lower deficit under 3 % by 2012 and to achieve balanced budget in 2015.

Slovak parliament approves protectionist law

Slovakia"s parliament approved on 5 November a widely-criticised law which protects so-called strategic companies from bankruptcy by giving the government the option to buy, restructure and find new investors for a firm.

World Bank sees Eastern Europe contracting 4.2 % in 2009

The European Union"s 10 ex-communist economies will contract by 4.2 percent as a whole this year and eke out growth of around just 1 percent next year, the World Bank said in a report on Wednesday.

Unemployment will be a long-term problem

Despite economic contraction is easing, the fear of longterm unemployment is rising. In the comming months, governments should focus on how to help people without jobs trying to find a new position on labor market, OECD warns.

World Bank: Slovakia is the best country for doing business in V4

Slovakia is the best country for doing business among V4 countries. In World Bank’s Doing Business 2010 report is placed on the 42. position. Figures also show worsening business climate, last year it was on the 35. position.

The most competitive economy among V4 countries is Czech republic

According to World Economic Forum the world´s most competitive economy is Switzerland, which replaced USA on the first position. Among V4 countries Czech Republic gained the highest position (31.), followed by Poland (46.) and Slovakia (47.). The lowest score has Hungary (58.).

The biggest GDP fall in first quarter 2009 recorded in Slovakia

According to the second Eurostat estimates for the first quarter of 2009 the biggest drop in GDP was recorded in Slovakia – 11,4 %. All EU member states registered negative growth except Poland and Cyprus.

EC asked Slovakia to ease spending

European Commission examined the updated Stability and Convergence Programmes and recommended deadline for correction of the deficit in Hungary and asked Slovakia to cut spending.

Early recovery of Slovak economy may cause another crisis

Rise in demand is essential for emerging from recession, experts say and predict the end of crisis in ten years. State secretary Peter Kažimír stresses that early recovery of Slovak economy may cause us another crisis.