BUSINESS IN SHORT

Construction firms expect growth

THIS should be the last year of decline for Slovakia’s construction sector, with the sector expecting to see a 4.3-percent drop in economic performance in a year-on-year comparison.

THIS should be the last year of decline for Slovakia’s construction sector, with the sector expecting to see a 4.3-percent drop in economic performance in a year-on-year comparison.

In 2014, the situation in construction should stabilise and the production rate should increase moderately by 1 percent, the SITA newswire reported, citing the latest analysis of the Slovak construction sector in the second quarter, authored by the CEEC Research analytic service based on surveys conducted among 100 companies.

The sector is starved for business, with the number of orders down significantly while personnel capacities are much higher than needed, CEEC Research director Jiří Vacek said.

“Despite the fact that we are in the middle of the main construction season, every third construction worker doesn’t have work [to do],” Vacek, said as quoted by SITA.

Small and medium construction enterprises expect significant drops in revenues, by over 4 percent, while larger companies are expecting stabilisation or very moderate growth after experiencing large drops in previous years.

Stabilisation and moderate growth is expected in 2014 due to the planned start of several big public-sector projects.

The state is planning to invest €8 billion into transport infrastructure, primarily highways, by 2016, and some of those funds could appear on the market as early as this year, SITA reported.

“If the prepared projects were launched at least by 70 – 80 percent in one year’s time at the latest, it would mean a relatively steep increase,” said Magdaléna Dobišová, the CEO of the Skanska construction firm, to SITA.

But SITA wrote that construction companies are rather sceptical about the actual implementation of this ambitious plan.

Get daily Slovak news directly to your inbox

Top stories

People with negative tests can go to hairdresser or outdoor terraces

Those with a negative test result will have to follow rules introduced on October 15.

Companies fear drop in demand for their products and services the most

International chambers of commerce asked companies about their current situation as well as expectations.

Companies implemented anti-coronavirus measures.

News digest: The Gale targets corruption, cabinet officially prolongs curfew

Slovakia learned about biggest corporate taxpayers, the president signed laws changing the minimum wage and 13th pensions. Read the latest news overview.

Mobile testing units were built in the Hviezdoslavovo Square in Bratislava.

The big testing: When and where to show up, and what if I don't want to? (FAQ)

Here is what we know about the practicalities of the nationwide testing so far. Testing also applies to foreigners and diplomats in Slovakia.

Pilot testing in Bardejov