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.
Positive prospects for the Slovakian economy
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.
Employment in Slovakia
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.