The business environment in Slovakia has been influenced by several legislative changes this year, with some changes bringing improvement and some making entrepreneurs' positions more difficult, according to Ladislav Vaškovič, the chairman of the Slovak Chamber of Commerce and Industry (SOPK). GDP, as well as the unemployment rate posted relatively positive developments, but practically no change occurred in the efficiency of public services, stated Vaškovič, adding that the higher revenues were achieved because of higher tax collection and a greater tax burden, which is one of the highest in the EU. GDP per capita in Slovakia equalled 77 percent of the EU average in last year. However, the average wage, which is more significant from the viewpoint of living standards, amounted to €883 in 2015. Slovakia is thus still far from being in a condition in which any Slovak government can be satisfied, stated Vaškovič.
Vaškovič said that expenditure on state debt servicing will stand at €1.3 billion in 2017. In case of the highly probable increase of extremely low interest rates, the burden on public finances will significantly grow due to external debt servicing. The unemployment rate has reached the level of 9 percent. However, there are 35,000 vacancies and 317,000 registered job seekers. A lot of people, chiefly the younger generation, study and work abroad and will probably not return to Slovakia, added Vaškovič. He stressed that there are many negatives stemming from the adopted public finance deficit, namely an increase in levies from regulated industries by 100 percent, the introduction or maintenance of extra levies for financial institutions, the scrapping of the ceiling basis for calculating transfers to compulsory health insurance funds and many others.
