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Business environment index drops

THE QUALITY of Slovakia’s business environment has dropped on a quaterly basis again, according to the business owners surveyed by the Business Alliance of Slovakia (PAS).

(Source: Sme)

The current business environment index (IPP) amounted to 58.5 points in the second quarter of 2015, down by 2.24 percent quarter-on-quarter.

The evaluation of the businesses was mainly impacted by the restructuring of the construction company Váhostav, which followed its inability to pay its suppliers. They also complained about the high administrative burden which has not been reduced despite several promises, PAS informed in a press release.

The biggest drop was reported in the category of the law enforceability and judiciary. The doubts on the functionality of the judiciary were stirred particularly by the judge, who okayed Váhostav’s restructuring notwithstanding alleged errors made by the trustee in bankruptcy.

They also criticised the rulings issued by the Supreme Court panel led by former court’s head, Štefan Harabin, who stated that the Interior Ministry inspectorate was illegal. This resulted in releasing several police officers convicted of corruption. The business people also slammed the absence of positive changes in judiciary.

Another negatively perceived sphere was the application of the principle of equality before the law. This followed the adoption of the amendment to the law on restructuring, passed in a fast-tracked procedure. The changes preceded the approval of Váhostav’s restructuring plan. The business people said that this will not solve problems in the construction sector.

The third criticised sphere is a combined category of red tape, delays in procedures from authorities and the need to file sundry reports. The adoption of new rules which should help the government to tackle corruption only resulted in more red tape for  the companies, the PAS survey showed.

On the other hand, the business owners positively evaluated all areas that fell within their own influence over the business environment and also access to funds. 

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