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
Subscribe now for full access

I already have subscription - Sign in

Subscription provides you with:
  • Immediate access to all locked articles (premium content) on
  • 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 and

Get daily Slovak news directly to your inbox

Top stories

Economic restart after COVID-19 should be green

Slovakia’s plan for using money from the EU’s Recovery Fund, innovation potential and examples of green solutions and the challenge of renovating buildings are among the highlights of the latest Business Focus.

The Velux plant in Partizánske utilises 97 percent of waste from production.

Cabinet agrees on COVID screening

More details will be presented tomorrow.


More tips for outings in Bratislava during the lockdown

Walks along the Danube bank offer a feeling of being far from the city rush.

This place, part of Ovsištské Lúky (Ovsište Meadows) in Petržalka, is still Bratislava.

Roundup: Fairytale app that makes children read

An award-winning design by a Slovak architect and a trip to Zádielska dolina valley. Here’s your latest roundup.

A man wearing a face covering sits in an armchair on the snow-covered Main Street in Košice on January 13, 2021.