BUSINESS IN SHORT

PAS: Business climate deteriorates

THE BUSINESS environment in Slovakia deteriorated significantly in the first quarter of 2009 according to the Business Environment Index, calculated quarterly by the Slovak Business Alliance (PAS). The index fell by 3.33 percent on a quarterly basis to 109.5 points, the SITA newswire reported.

THE BUSINESS environment in Slovakia deteriorated significantly in the first quarter of 2009 according to the Business Environment Index, calculated quarterly by the Slovak Business Alliance (PAS). The index fell by 3.33 percent on a quarterly basis to 109.5 points, the SITA newswire reported.

This was the eleventh consecutive drop in the index, showing the deepest quarterly decline ever. The quality of Slovakia’s business environment sank below the levels of 2004, when the index stood at 110.6 points in that year’s first quarter.

The Business Environment Index started gradually to fall beginning in the second quarter of 2006.
Among the categories making up the index, the PAS said the deepest drop was in the area of efficiency of spending state money and access to state aid, which fell by 9.75 points to 52.6 points.

Despite the negative impact of the economic crisis on the general government deficit, the cabinet has not yet re-evaluated state budget expenditures nor introduced radical spending cuts in all departments, according to PAS.

Furthermore, PAS said that extravagant government behaviour was reflected in a significant wage increases in public administration at a time when real wages in private companies with more than twenty employees are shrinking.

Top stories

Vast damage after the supercell storm in southern Moravia.

UPDATED: Tornado damaged villages just across the Slovak borders

Czech authorities report three dead and hundreds of injured in southern Moravia region.


6 h
The Weekend of Open Parks and Gardens has became a popular event in Slovakia

Pandemic highlights the importance of parks and gardens

Parks and gardens across Slovakia will open during the Weekend of Open Parks and Gardens


21 h
The panorama of the High Tatras and the gravel lake between the town of Svit and the village of Batizovce in the Poprad district.

A Slovak castle appears in "Friends: The Reunion"

A brown bear toured a Slovak town. You can now tour a region filled with tasty wine.


5 h
A man waits outside a mobile Covid-19 vaccination centre outside Bolton Town Hall, England, where case numbers of the Delta variant have been relatively high.

How to change people's minds about vaccination? Experts hesitant that money is the answer

The state fears a third wave may hit hard in poorly vaccinated districts. The state should try whatever could work, researcher claims.


21 h