Spectator on facebook

Spectator on facebook

Slovakia places 43rd in Forbes list

Slovakia finished 43rd in the list of the countries most suitable for doing the business, which is compiled by the Forbes economic magazine. Though the country has made significant economic reforms since its separation from the Czech Republic back in 1993, Slovakia placed worse than its western neighbour which finished 41th, the SITA newswire reported on November 16.

Slovakia finished 43rd in the list of the countries most suitable for doing the business, which is compiled by the Forbes economic magazine. Though the country has made significant economic reforms since its separation from the Czech Republic back in 1993, Slovakia placed worse than its western neighbour which finished 41th, the SITA newswire reported on November 16.

The Forbes magazine praised Slovakia for its reforms involving taxation, healthcare, pensions, and social welfare systems, which helped the country consolidate its budget and get on track to join the European Union in 2004 after a period of relative stagnation in the early and mid 1990s, and to adopt the euro in January 2009, according to the Forbes.com website.

“Major privatisations are nearly complete, the banking sector is almost entirely in foreign hands, and the government has helped facilitate a foreign investment boom with business friendly policies,” the website reads.

Moreover, the magazine highlighted the fact that while in 2009 the economy of Slovakia dropped by 5 percent, it restored in the following years and achieved 4 percent growth in 2010 and 3.3 percent in 2011.

In addition to this, the government of previous prime minister Iveta Radičová “implemented reforms to curb corruption and improve government accountability - a major source of discontent with many Slovaks - and trimmed the budget deficit to 4.9 percent of GDP in 2011”, according to Forbes.com.

The Forbes list of the countries most suitable for doing the business is led by New Zealand, praised for its transparent and stable business environment. Denmark placed second, followed by Hong Kong and Singapore. On the other hand, Guinea, Chad and Zimbabwe earned some of the lowest scores of the 141 countries surveyed.

Source: SITA, Forbes.com

Compiled by Radka Minarechová from press reports

The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.

Top stories

Night life in Bratislava will not end

Councillors for the Old Town adopt new opening hours for pubs, night clubs and restaurants.

How social networks can earn you a ticket to Germany

Can a status on a social network change someone’s life? Yes, if you write humorous stories about a fictive German ambassador.

Assaf Alassaf (r) talked about his life and his book in Bratislava

The most famous circus comes to town Video

The famous Cirque du Soleil is in Bratislava celebrating the 15th year of its show Varekai: Tales of the Forest.

Cirque du Soleil: Varekai

New investor to create 500 jobs in Nitra

A company following the Jaguar Land Rover carmaker to Nitra plans to create 500 new jobs and invest €17 million.

Tha Jaguar Land Rover draws also other investors to Nitra.