At the start of 2025, Slovak households began to feel the full impact of government austerity measures aimed at consolidating public finances. A hike in value-added tax (VAT) and a cut to the child tax bonus have pushed up inflation, further eroding household purchasing power. The anticipated tax increases prompted many families to stock up…
As part of its fiscal consolidation efforts, the Slovak government introduced a tax on sugary drinks and syrups earlier this year. The move has led to a steep rise in prices – by 30% to 50% for soft drinks, and in some cases, syrup and juice concentrate prices have doubled compared to the previous year.…
Slovakia’s housing market is showing renewed strength after two years of decline, though the recovery remains uneven. Property prices stopped falling roughly a year ago, but substantial increases are so far concentrated in economically stronger regions, including Bratislava, Kosice and Trnava. Elsewhere, values are returning to previous peaks more slowly. In the first quarter of…
The last trace of Presov’s storied liquor-making tradition is fading. Prelika, the city’s final operating distillery and mustard producer, is closing after years of decline, bringing an end to a legacy that began in 1903 with 22 local estate owners. Founded as a cooperative with a sizeable annual output for its time – 34,000 hectolitres…
Slovakia’s labour market, long buoyed by years of economic growth, is now showing signs of strain. After a decade of steadily rising employment, driven by expansion in key sectors, the country is experiencing stagnation – and in some areas, a modest decline, particularly within the private sector. Economists and employers alike point to the twin…
Slovakia ended 2024 with a public finance deficit of 5.3% of GDP – lower than feared, but still among the worst in the European Union and well above the bloc’s 3% ceiling. With debt now nearing 60% of GDP, the country’s long-term fiscal sustainability is in serious question, according to national watchdogs. When Prime Minister…
An escalating global trade war could wipe out nearly all of Slovakia’s expected economic growth next year and lead to the loss of 20,000 jobs, the country’s central bank warned. New import tariffs introduced by the United States, and retaliatory measures by its trading partners, would push the Slovak economy into a period of pronounced…