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Slovak business chamber expects economic stagnation in 2012

Slovak business leaders believe that the economic results for their companies will stagnate in 2012, the TASR newswire reported based on an announcement from the Slovak Trade and Industrial Chamber (SOPK) on January 23. "The deceleration in growth will especially affect employment, profits and losses after tax, exports and investments," SOPK stated, as quoted by TASR, based on a survey conducted among its member companies at the end of 2011, with 29 percent of the respondents foreseeing an unfavourable business environment in 2012.

Slovak business leaders believe that the economic results for their companies will stagnate in 2012, the TASR newswire reported based on an announcement from the Slovak Trade and Industrial Chamber (SOPK) on January 23.

"The deceleration in growth will especially affect employment, profits and losses after tax, exports and investments," SOPK stated, as quoted by TASR, based on a survey conducted among its member companies at the end of 2011, with 29 percent of the respondents foreseeing an unfavourable business environment in 2012.

The respondents also stated that they want better law enforcement, quality legislation, and removal of administrative burdens in order to improve the business environment. Those surveyed were also critical of income taxes and payroll levies, the Labour Code, and lack of transparency in public procurements and also requested more intensive state support for domestic businesses.

"The dominant risks affecting the business environment are cronyism and corruption," SOPK stated to TASR.

Source: 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.

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