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Business survey reports business environment deteriorated in Q1 2012

The business environment in Slovakia deteriorated over the first quarter of this year based on the results from the Business Environment Index regularly prepared by the Slovak Business Alliance (PAS) based on a survey of businesses. The figure for the first quarter of the year stood at 85.1 points, a drop of 2.24 percent compared with the previous quarter, the SITA newswire reported.

The business environment in Slovakia deteriorated over the first quarter of this year based on the results from the Business Environment Index regularly prepared by the Slovak Business Alliance (PAS) based on a survey of businesses. The figure for the first quarter of the year stood at 85.1 points, a drop of 2.24 percent compared with the previous quarter, the SITA newswire reported.

Robert Kičina, the executive director of the alliance, told SITA that the negative sentiments of businesses stems from considerable instability in legal rules and also the change of the government and concerns related to a potential rise in tax and levy burden for particular businesses, while adding that businesses are mainly dissatisfied with the enforceability of law and the functioning of the judiciary.

"The judiciary is among the most heavily criticised spheres over the long run, while prompt removal of imperfections in the sphere of law enforceability and acceleration of court proceedings are considered to be necessary for the fight against murky practices," stated Kičina, as quoted by SITA.

Business people also negatively evaluated the functionality of the political system. "Negative evaluation of this issue is associated with the resignation of the outgoing government regarding pro-reform activities and its concentration mainly on pre-election topics. The goals declared by the new government in economic and financial policy have stirred concerns as well," Kičina stated.

According to the survey, businesses were dissatisfied in the first quarter with the work of state institutions, price stability, effectiveness of the state's economic performance, the state’s attitude to business aid, reliability and financial discipline of trade partners and red tape at offices. But the business people did praise the openness of businesses, investments and technological development as well as regulation of cross-border trade.

Source: SITA

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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