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Economy

Slovakia's Rise in Living Standards Has Stalled, Economist Warns

Slovak households achieved historically high net incomes last year, but this upward trend has now stalled and may reverse, according to Martin Šuster, a member of the Council for Budget Responsibility. The economist warns that Slovakia will either stagnate or see declining living standards, attributing this to rising taxes and social contributions that are reducing workers' net wages. While Prime Minister Robert Fico and other coalition politicians have frequently cited Šuster's previous statements that Slovaks are living better than ever in the country's history, the economist now cautions against complacency with the current situation. Šuster's analysis suggests that the period of improving household finances has come to an end, marking a significant shift in Slovakia's economic trajectory.

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Economy

Slovak Insurance Companies Extend Travel Coverage for Clients Stranded in Middle East

Slovak insurance companies are automatically extending travel insurance coverage for their clients stranded in the Middle East due to flight disruptions. The extensions are being provided at no additional cost to policyholders who are unable to return home as scheduled due to ongoing aviation problems in the region. This measure ensures that Slovak travelers remain covered for medical expenses and other travel-related incidents while they wait for alternative flight arrangements to become available.

Aktuality
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Economy

Slovak Advisory Firm Linked to Chinese Investments Declares Bankruptcy Owing 3.1 Million Euros in Taxes

A little-known Slovak consulting company called Hunan Trade has declared bankruptcy, owing over 3.1 million euros in taxes – representing nearly 85 percent of all February bankruptcy cases' tax debts. According to business daily Hospodárske noviny, the firm was involved in "facilitating Chinese investments in Slovakia." Tax authorities initially proposed the company's bankruptcy in May of last year, but the court only officially declared it eight months later in February. The company has not reported on its financial operations for the past five years, raising questions about its activities and the transparency of Chinese investment channels in Slovakia.

Dennik N
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Economy

Rimavská Sobota attracts major investor for new sports and entertainment center

The company LEGIA plans to build a new sports and entertainment center in Rimavská Sobota, a town in south-central Slovakia, with an investment of 5.2 million euros. The project would be constructed on an extensive plot of land near the local football stadium, which the municipality is expected to sell to facilitate the development. The modern facility represents a significant investment for the region and could boost local recreational opportunities and economic activity in the area.

Aktuality
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