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PAS: Slovak business environment continues to worsen

The quality of the business environment in Slovakia declined in the first quarter of 2013, according to the Business Environment Index prepared by the Business Alliance of Slovakia (PAS). It stood at 72.7 points, which is 3.84 percent lower than in the previous quarter, PAS informed in its press release sent to the media on June 20.

The quality of the business environment in Slovakia declined in the first quarter of 2013, according to the Business Environment Index prepared by the Business Alliance of Slovakia (PAS). It stood at 72.7 points, which is 3.84 percent lower than in the previous quarter, PAS informed in its press release sent to the media on June 20.

Businesspeople cited weak law enforcement caused by the poor state of the justice system and insufficient application of the principle of equality before the law in their evaluation, which dropped 10.5 percent quarter-on-quarter to 11.6 points. To improve the current state, businesspeople believe it is necessary to pass changes that will better protect fair and honest businesses from fraud. Moreover, businesses say that the mess surrounding the election of the general prosecutor and disputable rulings of the Supreme Court have worsened the perception of legal uncertainty in Slovakia, PAS wrote in its press release.

Changes to the Labour Code and an increase in taxes and payroll taxes also contributed to the worsening business environment, PAS said. This item’s rating dropped 9.4 percent quarter-on-quarter to 53.1 points. One of the solutions could be to allow the deduction of items from payroll taxes, which could make lower-salary jobs more attractive. The business community also feels that the situation lacks expert discussion, as well as quick passing of legislative changes that have a fundamental impact on the business environment, PAS informed.

On the other hand, businesses praised the attitude of companies towards the environment, which rose by 1.96 percent, as well as firms’ ability to be transparent with their information, the rating of which rose by 1.85 percent compared to the previous quarter.

Source: PAS press release

Compiled by Radka Minarechová from press reports

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