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SOPK: 68% of businesses expect worse business environment in 2013

Deterioration in the quality of Slovakia's business environment is expected by 68 percent of the members of the Slovak Trade and Industry Chamber (SOPK), the chamber announced on Wednesday, January 23.

Deterioration in the quality of Slovakia's business environment is expected by 68 percent of the members of the Slovak Trade and Industry Chamber (SOPK), the chamber announced on Wednesday, January 23.

"This is the worst assessment in the … survey since 2007," the TASR newswire quoted the chamber as saying. It pointed out that its members account for 84 percent of Slovakia's GDP creation. The economic policies of the Fico government last year were assessed negatively by 50 percent of the responding businesses. Positive prospects vis-a-vis the results of government policies were expressed by only 7 percent of respondents, compared to some 20 percent reported a year ago.

"Slovakia may expect a slight drop in external demand in 2013, followed by a recovery and economic growth in 2014, as a result of adopted investment measures in the private sector," wrote SOPK. An increase in production should be caused in particular by the launch of new car models this year. Improvement in the drawing of EU structural funds is also expected to have an influence on large infrastructure projects. The chamber does not expect growth in employment, however, before a slight improvement foreseen for 2014. "Labour productivity should continue growing, but the costs of labour will see negative developments, although a more significant increase isn't expected," said SOPK.

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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