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Slovakia falls in “Best for Business” list
23 Jan 2014 Flash News
In the latest chart of 21 countries of eastern Europe and central Asia by the Bloomberg agency, Slovakia placed 13 (tied with Latvia) – falling in its position against previous rankings.
The time and cost it takes to start a business is the main reason behind Slovakia’s position, the Hospodárske Noviny economic daily wrote. Experts assessed the best conditions for business, and based the ranking on data of the EU’s Eurostat statistics office and the International Monetary Fund.
Slovakia’s neighbours Hungary, the Czech Republic and Poland (which was evaluated as the best country to start business in the region), placed much better. According to the assessment, “we also profoundly lag behind other states in terms of high costs of labour and material, including energy”, J&T Banka analyst Stanislav Pánis told the daily.
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