ANOTHER YEAR OF FISCAL BELT-TIGHTENING

June: The top business stories of 2012

Tax freedom day in Slovakia falls on June 1. Tax freedom day, the first day in a given year on which people have earned enough to fund the state’s annual tax demands, falls on June 1 in 2012 in Slovakia, according to an analysis released by the Association of Slovak Taxpayers and the F. A. Hayek Foundation. Tax freedom day in 2011 fell on June 3.

Tax freedom day in Slovakia falls on June 1. Tax freedom day, the first day in a given year on which people have earned enough to fund the state’s annual tax demands, falls on June 1 in 2012 in Slovakia, according to an analysis released by the Association of Slovak Taxpayers and the F. A. Hayek Foundation. Tax freedom day in 2011 fell on June 3.

Swedspan Slovakia expands. This member of the Ikea group launched construction of a new complex in Malacky in western Slovakia with an investment worth more than €100 million. The new plant will produce wooden panels using innovative technology and an energy-saving production process.

Fico presents fiscal consolidation package. The package features 22 proposed measures to decrease the state deficit to below 3 percent of GDP. The total impact of the package on the public deficit for 2013 should be about €2.3 billion, which is about €600 million more than the sum the government needs to cut the state deficit to meet the Maastricht criteria.

Government halts privatisation of central heating companies and others. The Fico cabinet halts the privatisation process of central heating companies and state shares in other firms that had been slated for sale by the previous government. It had planned to privatise six central heating companies in Bratislava, Trnava, Žilina, Martin, Zvolen and Košice and to sell minority stakes in local bus transport operators. State-owned shares in Slovak Telekom, the Bratislava Stock Exchange and in the DMD Group as well as the Sliač and Bardejov spas and Polyclinic Tehelná were also earmarked for sale by the previous government.

Parliament passes ESM Treaty. The Slovak Parliament approves the Treaty establishing the European Stability Mechanism (ESM), the permanent rescue fund proposed by eurozone countries to replace the European Financial Stability Facility (EFSF). A parliamentary vote in October 2011 on the EFSF, a plan that European leaders had signed up for in July 2011 to calm increasingly jittery global financial markets, led to the downfall of the government of Iveta Radičová.

February: The top business stories of 2012

March: The top business stories of 2012

April: The top business stories of 2012

May: The top business stories of 2012

July: The top business stories of 2012

August: The top business stories of 2012

September: The top business stories of 2012

October: The top business stories of 2012

Top stories

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An interactive statue by the Love Bank museum in Banská Štiavnica.

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Recent tax measuresmayhelp to fill state coffers.

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The planned tax reforms are both ambitious and complex; it is already clear that not everything will be enforceable.


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