BUSINESS IN SHORT

Less economic freedom in Slovakia

ECONOMIC freedom in Slovakia has fallen 15 places year-on-year in a global ranking by the free market oriented F. A. Hayek Foundation.

ECONOMIC freedom in Slovakia has fallen 15 places year-on-year in a global ranking by the free market oriented F. A. Hayek Foundation.

The country ended in 57th position - the lowest among central European countries.

“This result has completely overturned last year’s improvement by 9 places and thus confirmed our negative outlook in the context of the consolidation measures that the incumbent government has introduced following its rise to power,” said the Hayek Foundation, which cited data from the Heritage Foundation, a right-wing Washington D.C.-based think tank, and The Wall Street Journal.

The report was drafted based on data from 2012. Slovakia’s fall was attributed to tax hikes, an increase in the state debt and changes to the Labour Code. It blames reduced flexibility in the labour market for high unemployment. High levels of corruption pose another negative factor.

The processing of personal data is subject to our Privacy Policy and the Cookie Policy. Before submitting your e-mail address, please make sure to acquaint yourself with these documents.

Top stories

Why should companies and NGOs help schools?

School graduates often do not meet the latest labour market requirements.

One of the trainings organised by Accenture.

Hamšík voted the best Slovak football player of 2018

The Slovak midfielder won the title eight times in the last 10 years.

Slovak midfielder Marek Hamšík was named Slovakia's Football Player of the Year.

Bizarre election day: From lucky winner to drinking first-time voters

The district of Prešov became the centre of this year's election strangeness.

Liptovské Kľačany mayor Ján Hollý raising a glass with one of the first-time voters.