Business environment continued to worsen in fourth quarter of 2012

Slovakia's business environment deteriorated in the final quarter of 2012, with the Business Environment Index (IPP) down 4.43 percent quarter-on-quarter to 75.6 points, executive director of the Slovak Business Alliance (PAS) Róbert Kičina said on March 14, the TASR newswire reported.

Slovakia's business environment deteriorated in the final quarter of 2012, with the Business Environment Index (IPP) down 4.43 percent quarter-on-quarter to 75.6 points, executive director of the Slovak Business Alliance (PAS) Róbert Kičina said on March 14, the TASR newswire reported.

The deterioration in the quarter is the biggest ever fall since the IPP was introduced in the third quarter of 2001. A certain level of scepticism pervaded among Slovak entrepreneurs due to changes in the Labour Code and increases in taxes and levies ushered in towards the end of last year. These measures, along with considerable economic uncertainty, have increased the risk of lay-offs and growth of the so-called "grey economy".

Slovak businesspeople saw legislative changes concerning levies as being the most negative factor, with this indicator posting a record-breaking drop of 14 percent, to 58.5 points out of a possible 100, when compared to the third quarter to. Meanwhile, labour legislation was the second-most-negatively evaluated parameter, recording a drop of 13.5 percent quarter-on-quarter to only 50 points. The third-largest decrease of 13.2 percent was posted for tax legislation. This stood at 67.1 points in the fourth quarter. Conversely, a few indicators recorded increases. All of these were associated with subjective influences of individual enterprises on business quality, such as relationship to the environment, openness of information and human-resources management.

Source: TASR

Compiled by Zuzana Vilikovská from press reports
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