Entrepreneurs perceive Slovakia's business environment more positively

However, the business community still struggles with bureaucracy and laws, according to the recent business index.

Illustrative stock photoIllustrative stock photo (Source: TASR)

The Business Environment Index (IPP), published by the Business Alliance of Slovakia (PAS), has gone up for the first time in eight years.

Slovak entrepreneurs assessed the second half-year of 2018 more positively than in the previous period. The IPP increased by 0.09 percentage points compared to the second quarter of 2018, scoring 44.82 percent in total, PAS informed in a press release.

Read also:Slovakia's business environment has been stuck Read more 

The last time the index increased was in the third quarter of 2010, PAS pointed out. Although the assessment of the business environment has stopped falling, it cannot be described as satisfactory.

In 2018, Slovakia scored only 48.7 percent of the 2010 assessment in the index, according to PAS.

Barriers in business

The effectiveness of the state management, access to state aid, bureaucracy, the application of the principle of equality before the law, and the clarity and consistency of law have again been identified as top barriers by businesses in Slovakia.

Read also:Slovakia's economic freedom is the worst in central Europe Read more 

On the other hand, they positively evaluated functioning state institutions, including tax offices.

“They appreciate the amendment to the law on public procurement, which promises to accelerate the process,” said PAS, as quoted in the press release.

Similarly, they gave a positive evaluation to the law amendment on the land register, which is believed to offer more efficiency, as well as the proposed changes in the police corps.

However, PAS remains skeptical.

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