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Investors sceptical about boom

FOREIGN investors do not expect Slovakia to experience an economic boom this year, according to a survey carried out by the German-Slovak Chamber of Commerce (SNOPK) in February among 196 companies. The results showed that most investors do not evaluate this year’s economic development better than they did last year.

FOREIGN investors do not expect Slovakia to experience an economic boom this year, according to a survey carried out by the German-Slovak Chamber of Commerce (SNOPK) in February among 196 companies. The results showed that most investors do not evaluate this year’s economic development better than they did last year.

Up to 59 percent of companies say the economic situation in Slovakia is satisfactory, while 29 percent of them view it negatively, the TASR newswire reported on March 26.

On the other hand, firms are more optimistic about the expectations for their own businesses for 2014. While more than one half of companies predict their revenues will rise, only 11 percent say their economic situation will worsen. Nearly every fourth company wants to expand its investments and staff, TASR wrote.

Slovakia’s advantage, according to the respondents, is its European Union membership, its productive and low-cost workforce and the availability and quality of local suppliers.

The respondents said that it is necessary to improve law enforcement, the fight against corruption and transparency of public procurements. They also criticised the last three amendments to the law on public procurement, TASR wrote.

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