Employer association says crisis will test Labour Code and other legislation

The global economic crisis is affecting the Slovak economy which is strongly oriented towards the car-making and electronics industries, said Roman Karlubík, vice-president of the Association of Employer Unions and Organisations (AZZZ) at its conference ending on February 13.

The global economic crisis is affecting the Slovak economy which is strongly oriented towards the car-making and electronics industries, said Roman Karlubík, vice-president of the Association of Employer Unions and Organisations (AZZZ) at its conference ending on February 13.

“The crisis will test whether legislation adopted during an economic boom - the Labour Code, for example, is appropriate for hard times as well,” he said. He expects the impact of the crisis to reach a peak in the second half of 2009, the TASR newswire wrote. According to Karlubík, there are several factors influencing the scale of the crisis.

“We need to reassess relevant legislation, which wasn’t prepared for a crisis situation. Shortening the period for returning excessive VAT payments from 60 days to 30 will be the most beneficial move for companies,” he said, adding that increasing the income-tax deductible minimum will boost people’s purchasing power.

He said he considers public-private partnership (PPP) projects to be very helpful, especially those involving reconstruction of motorways and other projects using funds of the EU.

He also suggested lowering levies for all businesses, lowering the income tax, amending the Labour Code, and improving law enforcement as tools to tackle the economic crisis. Public expenditures and public procurements should be made more effective as well he said. TASR

Compiled by Zuzana Vilikovská from press reports
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.

Top stories

News digest: Green passes to be launched on Saturday, minister asks people not to sign up right away

Three other Delta variant cases confirmed in Slovakia. Travelling within the EU should be easier thanks to Green Passes. People in tourism optimistic about the upcoming season.


9 h
Marian Kocner and his lawyer at the Supreme Court

The wrong way to put things right

Overturning not-guilty verdicts, especially in cases as emotive as the Kuciak murder trial, is a very bad idea.


13 h
In 2020, the National Cybersecurity Centre was involved in investigating 450 ransom attacks.

North Koreans and Russians. How did hackers target Slovakia?

The security authority reported hundreds of attacks over the past year.


23. jún
Illustrative stock photo

First Delta variant case confirmed in Slovakia

The labs confirmed the strain in a positive sample from a person who returned from Russia.


23. jún