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.Companies implemented anti-coronavirus measures. (Source: TASR)

The novel coronavirus crisis continues to take a bite out of the Slovak economy. While companies partly recovered from the first wave’s lockdown, the second wave of the COVID-19 pandemic is raising their concerns. Demand for their products and services has replaced wage cost as the biggest risk for their economic development for the next 12 months, based on the latest survey of four chambers of commerce.

Related articleWho are the biggest corporate taxpayers? Read more 

“We have very much welcomed the reopening of the Slovak economy during the spring and hoped for its recovery,” said Peter Lazar, president of the German-Slovak Chamber of Commerce (AHK Slowakei). “Alas, the exact opposite has happened. We are facing huge problems and standing on the edge of another lockdown.”

Lazar estimates that the second wave of the COVID-19 pandemic will cause losses for companies, in terms of finances as well as jobs.

The rest of this article is premium content at Spectator.sk
Subscribe now for full access

I already have subscription - Sign in

Subscription provides you with:
  • Immediate access to all locked articles (premium content) on Spectator.sk
  • Special weekly news summary + an audio recording with a weekly news summary to listen to at your convenience (received on a weekly basis directly to your e-mail)
  • PDF version of the latest issue of our newspaper, The Slovak Spectator, emailed directly to you
  • Access to all premium content on Sme.sk and Korzar.sk

Top stories

Oli Džupinková and her book

With her mom’s recipes, popular radio host taught Slovaks to cook Rusyn meals

Regional meals succeeded beyond community, beyond Slovakia’s borders.


21 h
Illustrative stock photo

Third doses administered in Slovakia but not for everyone at the moment

Six months must pass from the administration of the second dose, people with immunity problems an exception.


3 h

Thumbelina and Ugly Duckling, soon to be read by Rusyns in their native language

An architect decided to make a book translation and collected money via crowdfunding.


23 h
Skryť Close ad