Slovakian Economy Will Further Develop in 2016

Slovakian authorities have recently announced that the local economy will further develop throughout this year. Although the businessmen may be concerned about the effects brought on the financial markets following the results of the Brexit, the local authorities declared that they maintain their positive outlook even in this situation, and that the economy is expected to grow to 3,2%. Our team of Slovakian company incorporation representatives can provide an in-depth presentation on the economic environment available on this market. 

 

Businessmen who want to open a company in Slovakia can proceed to this operation, as the local economy will not be affected by the European turmoil that recently took place.  The Ministry of Finance announced that the economy will further increase in the following years, as well. If the prognosis for 2016 set the level of the Slovakian economy at 3,2%, in 2017 it will grow to 3,7%, in 2018 to  4,1% and in 2019  to 4,9%. 

 

The latest data presented by the Ministry of Finance maintain the same predictions as the ones set out at the beginning of the year. 

 

However, there is one change, which refers to an increase in the economic expectations set out for 2017 (an increase of 0.1% compared to the analysis carried out in January); our team of Slovakian company formation consultants can provide more detains in this sense. 

 

 

Investors who are interested in opening a business in Slovakia should also analyse various characteristics of the local workforce which are of interest to them, but also to study the requirements imposed by the employment legislation.  

 

An important aspect is that the unemployment rate in Slovakia should decrease throughout 2016 and the following years. In 2016, the unemployment rate should reach 9,7% (a decrease of 0,7%), while in  2017 it will further decrease to 8,7%. In 2019, the rate should reach 6,5%. 

 

The Ministry of Finance also declared that the employment rate in 2016 will increase by 1,7%, which can be translated in a total number of 40,000 new jobs on the Slovakian market. 

 

Businessmen who want to receive more details on the Slovakian economy and the steps required to incorporate a company here, can address to our team of company formation agents in Slovakia.