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

Námestie Slobody square closer to facelift Photo

The Bratislava city council wants to revitalise the square by the end of 2018

The winning project for revitalisation of Námestie Slobody square

Slovak hockey league will not rest during Olympics

Unlike the Slovak premiere hockey league, Swiss, German and Russian leagues will take a break during the 2018 Winter Olympics.

Ice hockey is popular in Slovakia

Disputed fee for preferential treatment at doctors to be re-introduced

Patients unwilling to wait at the doctor’s office may be able to make appointments starting next year, for a fee of €50.

Waiting rooms are full of patients, illustrative stock photo

Gilden: Take the negative and make a positive from it Photo

The works of New York native, photographer Bruce Gilden, who has worked for five decades in the streets of the biggest cities, are on exhibit in the Kunsthalle (House of Arts) in Bratislava.

Bruce Gilden: Feast of San Gennero, Little Italy, 1984.