Mihok: Slovak Economy in Good Shape in 2016

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Bratislava, January 28 (TASR) – At the dawn of 2016, the Slovak economy seems to be in good condition both in terms of public finances and basic macroeconomic parameters, Slovak Trade and Industry Chamber (SOPK) chair Peter Mihok said at a press conference on Thursday.

SOPK presented its 2016 economic prognosis and results of the survey aimed at learning the expectations among figures in business community.
“The business mood is improving, which has translated into the growth of investment activities both in state and private sectors. However, the quality of business environment still fails to achieve the parameters necessary for more pronounced growth,” said Mihok, adding that the legislative stability required for strategic business decisions, too, has some ways to go still.
Mihok attributes significant importance to the March 2016 general election, as entrepreneurs expect the new government to define clear and simple strategy for mid-term development of Slovak society and economy. “The strategy will lay the groundwork for dealing with issues of cumulatively high tax and levies (payroll deductions) burden for companies, steep energy charges for business sector, reduction of excessive administrative paperwork for companies, bad state of the judiciary and the need for fundamental reform in education – emphasising quality and linkage with the labour market,” added Mihok.