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Entrepreneurs group reports its business environment index hits its historical low

According to entrepreneurs, the business environment in Slovakia deteriorated in the second quarter of this year, with the current value of its business environment index falling to 90.4 points, a decline of 0.51 percent from the previous quarter, based on a survey conducted by the Business Alliance of Slovakia (PAS), the SITA newswire reported.

According to entrepreneurs, the business environment in Slovakia deteriorated in the second quarter of this year, with the current value of its business environment index falling to 90.4 points, a decline of 0.51 percent from the previous quarter, based on a survey conducted by the Business Alliance of Slovakia (PAS), the SITA newswire reported.

Dissatisfaction with the enforceability of laws was responsible, according to the alliance, which added that the government's efforts to improve the business environment, partly neutralised by uncertainty on global markets, did not prevent a drop in the index to its historical minimum.

The Business Alliance further stated that entrepreneurs have very little trust in the judiciary and are dissatisfied with the length of court proceedings and insufficient impartiality of the judiciary. A considerable part of PAS’ criticism is related to the weak protection of creditors, displayed by a low success rate in recovery of receivables.

The entrepreneurs are also worried about a potential acceleration of price growth, related to Slovakia’s regulator's decision on energy prices as inflation has been mostly driven by transportation and energy prices. The third biggest drop in the index was reported in the reliability and financial discipline of business partners.

PAS also noted that businesses are complaining about the stability and predictability of the euro's exchange rate. Slovakia’s labour legislation was evaluated most-positively because of the amended Labour Code. Slovak businesses also positively assessed the state's economic policy, access to information and financing.

Source: SITA

Compiled by Zuzana Vilikovská from press reports
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