Business conditions in Slovakia have taken a sharp turn for the worse due to dysfunctional anti-crisis policies, low-quality legislation and limited social dialogue, said the president of the Republican Union of Employers (RÚZ), Marián Jusko, on February 4, the TASR newswire reported.
According to Jusko, a former governor of the Slovak National Bank, the economy's consolidation is being hampered by the growth of the public debt and overall deterioration of public finances.
Increasing insecurities, reduced accessibility to credit, rising insolvency and bankruptcies have significantly exacerbated the problems facing the business community and unsettled domestic as well as foreign investors alike, he said.
According to RÚZ, more than 3,000 enterprises went out of business in 2009 alone. The employers also point to corruption and the ineffectiveness of the courts in terms of successful plaintiffs seeking redress.
Jusko considers the social dialogue within the tripartite (government, unions and business) framework to be quite important. But in its current form he views the social dialogue as inadequate.
RÚZ has also criticised the efficiency of the anti-crisis measures introduced in Slovakia, TASR wrote. According to RÚZ's Index of Anti-Crisis Measures Efficiency, Slovakia is among the least successful countries within the EU in tackling the crisis. 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.
5. Feb 2010 at 10:00