Slovak business environment worsens further in Q2 2013 - survey

By bne IntelliNews August 28, 2013

Slovakia’s business environment deteriorated further in the second quarter of 2013, affected negatively mainly by entrepreneurs’ concerns about weak law enforcement, a survey by the Business Alliance of Slovakia (PAS) showed. The Business Environment Index, calculated by PAS, fell by 2.6 points from Q1 to 70.1 points in Q2, reaching a new record low level since its launch in 2001.

The unsatisfactory functioning of the Slovak judiciary, which has been one of the most criticized topics for a long time, recorded a drop of 9.12% q/q to an index level of 10.6 points. The insufficient application of equality before the law recorded a decline of 7.74% q/q to 20.2 points). Businessmen have warned that poorly functioning judiciary has a big negative impact on the business environment and want new legislation that will guarantee better protection for law-abiding businesses against fraudsters.

Another major driver for the deterioration in the overall business environment was the perceived low efficiency of the state's management of investment stimuli, a category which recorded a drop of 7.47% q/q to 17.4 points as businessmen consider the rules for access to state aid as non-transparent and selective.

On the other hand, only four categories recorded slight improvement in Q2 - environmental awareness among companies (+1.09% q/q), openness of companies regarding the provision of information (+0.79% q/q), the stability and predictability of euro exchange rates (+0.47% q/q), and human resources management (+0.06% q/q).

Related Articles

Explosion at Austrian gas hub interrupts supplies to Italy, Hungary and Slovenia

An explosion at the site of Austrian OMV’s Baumgarten natural gas hub has interrupted gas transit to Italy, Slovenia and Hungary, the Austrian government’s electricity and gas markets regulator ... more

CEFC and Penta reported to be bidding together for CME

CEFC, the acquisitive Chinese energy group, and Penta Investments, the closely-held Slovak financial group, are bidding together for Time Warner’s stake in Central European Media Enterprises (CME), ... more

Slovak and Czech oligarchs reportedly interested in buying CME from Time Warner

A group of Slovak and Czech oligarchs are reportedly interested in buying regional media and entertainment company Central European Media Enterprises, the Slovak Spectator reported on November 8. ... more

Dismiss