Legislative and Policy Update: June 2017



SLOVAK REPUBLIC


EUROPEAN UNION

ANTIMONOPOLY: On June 7, 2017, the Cabinet took into consideration the Report on the Activity of the Antimonopoly Office of the Slovak Republic for the year 2016. For more information click here. (REF: www.rokovania.sk 07/06/2017)

 

BUDGET: According to the Ministry of Finance of the Slovak Republic the state budget recorded a deficit of 891.5 million EUR in late May 2017. It means a year-on-year reduction of the state budget deficit by 220 million EUR, which is a drop by 19.8%. The revenues of the state budget compared to the same period of the previous year were lower by 233.6 million EUR. State budget expenditures were down year-on-year, by 453.6 million EUR. The year-on-year increase in tax revenues amounted to 91.7 million EUR. The value added tax recorded a positive development amounting to 263.2 million EUR, while an improvement of 23.6 million EUR was recorded with excise taxes and of 3.7 million EUR with the withholding tax. In the case of personal income tax, a year-on-year drop of 10.9 million EUR was observed. For more information click here. (REF: SITA A.M. 02/06/2017)

 

BUSINESS: On June 28, 2017, the Cabinet approved the Draft Measures to Improve the Business Environment in the Slovak Republic. For more information click here. (REF: www.rokovania.sk 28/06/2017)

 

CASH REGISTER: On June 14, 2017, Members of the Parliament approved an amendment to the law on the use of electronic cash register. All entrepreneurs will be able to use the state-run virtual cash register from September 1, 2017, regardless of how many receipts they will issue monthly. The amendment cancels the current limit of 3,000 issued receipts per month. For more information click here. (REF: www.nrsr.sk 14/06/2017)

 

DUAL EDUCATION: According to the Ministry of Education, Science, Research and Sport of the Slovak Republic, about 1,600 students are currently involved in the dual education system. For more information click here. (REF: SITA A.M. 09/06/2017)

 

E-CITIES: On June 28, 2017, the Cabinet approved the Proposal for Pilot Support of Experimental Development and Innovation Projects for the Development of Sustainable Cities in the Slovak Republic. For more information click here. (REF: www.rokovania.sk 28/06/2017)

 

ECONOMY: According to OECD the Slovak economy should grow by 3.3% this year and its growth rate should accelerate to 4.1% next year. For more information click here.  (REF: SITA A.M. 22/06/2017)

 

EDUCATION: On June 7, 2017, the Cabinet approved the Draft Act amending Act no. 597/2003 Coll. on Financing elementary schools, secondary schools and school facilities. For more information click here. (REF: www.rokovania.sk 07/06/2017)

 

EDUCATION: According to the current OECD report on Slovakia, up to 14% of Slovak students attend foreign schools. This is the highest figure in the OECD countries after Luxembourg. Another approximately 13% of students go abroad after graduation. The problem is that a large part of these educated people will not return home. For more information click here. (REF: SITA A.M. 27/06/2017)

 

ENERGY: Slovakia together with Ukraine will modernize the power transmission line between Veľké Kapušany in Slovakia and Mukachevo in Ukraine. The Slovak Electricity Transmission System (SEPS) and the company Ukrenergo have signed a memorandum on the plan to increase the transmission capacity between the power grids of the Slovak Republic and Ukraine. For more information click here. (REF: SITA A.M. 23/06/2017)

 

EU FUNDS: According to the Ministry of Finance of the Slovak Republic, Slovakia has absorbed 738.86 million EUR in eight out of eleven programs of European Union funds in the new programming period 2014-2020 until May 31, 2017. This means 5.28% of the total allocation of all programs amounting to 13.990 billion EUR, apart from the Rural Development Program. For more information click here. (REF: SITA A.M. 19/06/2017)

 

FINANCE: On June 28, 2017, the Cabinet approved the Proposal to Conclude a Loan Agreement between the Slovak Republic and the International Monetary Fund. For more information click here. (REF: www.rokovania.sk 28/06/2017)

 

INVESTMENT: On June 21, 2017, the Cabinet approved the Framework for Evaluation of Public Investment Projects in the Slovak Republic. For more information click here. (REF: www.rokovania.sk 21/06/2017)

 

INVESTMENT: SKL Cuting, a Slovak company, will produce equipment for the production of tires in Lučenec in southern Slovakia. This new investment should create work for 100 new employees. For more information click here. (REF: SITA A.M. 23/06/2017)

 

INVESTMENT: The Greek food holding Chipita is going to build a large bakery near Dunajská Streda. It will invest 63 million EUR in the new plant and it will employ more than 600 people. For more information click here. (REF: SITA A.M. 22/06/2017)

 

INVESTMENT: Optotune Slovakia will build a research and development center in Trnava. The Swiss investor will invest 3.8 million EUR in it and employ 50 specialists. For more information click here. (REF: SITA A.M. 22/06/2017)

 

INVESTMENT: On June 14, 2017, the Cabinet approved the investment stimuli for the company Leyard Europe amounting to 1.05 million EUR. The firm plans to invest in the extension of the LED panel plant. The investment in the industrial park Záborské near Prešov should reach over 5 million EUR and should open 119 new jobs. For more information click here. (REF: www.rokovania.sk 14/06/2017)

 

INVESTMENT: On June 7, 2017, the Cabinet approved the investment stimuli for the company Minebea Slovakia s.r.o. For more information click here. (REF: www.rokovania.sk 07/06/2017)

 

INVESTMENT: Company Helske will invest some 14 million EUR in the local industrial zone in Levoča and create 120 jobs. The company plans to build two production halls and one administrative building on an area of approximately 13,000 square meters. They will produce new industrial plasters, coatings and surfaces. Helske is engaged in the production of unique building materials using nanotechnology. For more information click here. (REF: SITA A.M. 15/06/2017)

 

LABOR MARKET: According to the Central Office of Labor, Social Affairs, and Family of the Slovak Republic, almost 41,600 foreigners officially worked in Slovakia at the end of May 2017. Compared to the end of May last year, this represents an increase by 12,100. The citizens of Romania form the largest group of foreigners in the Slovak labor market. For more information click here. (REF: SITA A.M. 27/06/2017)

 

PROPERTY RIGHTS: On June 7, 2017, the Cabinet took into consideration the Report on the Activities of the Industrial Property Office of the Slovak Republic for the year 2016. For more information click here. (REF: www.rokovania.sk 07/06/2017)

 

PUBLIC PROCUREMENT: On June 7, 2017, the Cabinet took into consideration the Information on the overall statistical evaluation of the procurement process for 2016. For more information click here. (REF: www.rokovania.sk 07/06/2017)

 

R&D: On June 7, 2017, the Cabinet took into consideration the Annual Activity Report of the Slovak Academy of Sciences for 2016. For more information click here. (REF: www.rokovania.sk 07/06/2017)

 

R&D: On June 14, 2017, the Cabinet approved the Proposal for the accession of the Slovak Republic to the Agreement Establishing the European Laboratory of Molecular Biology. For more information click here. (REF: www.rokovania.sk 14/06/2017)

 

R&D: On June 21, 2017, the Cabinet approved the Revision of the Statute of the Government Council of the Slovak Republic for Science, Technology and Innovation. For more information click here. (REF: www.rokovania.sk 21/06/2017)

 

REAL ESTATE: On June 30, 2017, the Parliament moved to the second reading the amendment to the Act on Local Taxes and Local Fees for Municipal Waste. It aims to modify the calculation of the tax on structures, tax rate on forest land where commercial logging takes place and tax on accommodation. For more information click here. (REF: www.nrsr.sk 20/06/2017)

 

REGIONS: On June 7, 2017, the Cabinet approved the Information on State Support for the Least Developed Districts. For more information click here. (REF: www.rokovania.sk 07/06/2017)

 

SECURITY: On June 28, 2017, the Cabinet approved the Report on the Security of the Slovak Republic for 2016. For more information click here. (REF: www.rokovania.sk 28/06/2017)

 

STATE AID: On June 7, 2017, the Cabinet approved the Report on State Aid in the Slovak Republic for the year 2016. For more information click here. (REF: www.rokovania.sk 07/06/2017)

 

TOURISM: According to the Statistical Office of the Slovak Republic, sales from active organized foreign tourism in 2016 rose by more than 28% compared to 2015. According to the information provided by the Slovak Association of Travel Agencies, in 2016 our travel agencies and tour operators ensured services for a total of 311,561 foreign tourists who spent 463,046 days in Slovakia. Most foreign tourists came from the Czech Republic (28%), Poland (13%), Germany (9%), Hungary (5%), and Austria (4%). The highest year-on-year increase was in the number of guests from China. For more information click here. (REF: SITA A.M. 13/06/2017)

 

UNEMPLOYMENT: According to the Central Office of Labor, Social Affairs, and Family of the Slovak Republic, the registered unemployment rate in Slovakia was 7.35% in late May. Compared to April, it dropped by 0.39 percentage points. Year-on-year, unemployment was lower by 2.10 percentage points. For more information click here. (REF: SITA A.M. 21/06/2017)


AVIATION: On June 8, 2017, the European Commission delivered on its ambitious Aviation Strategy for Europe by adopting a series of measures to further support open and connected aviation markets in the European Union and beyond. For more information click here. (REF: IP/17/1552)

 

BUSINESS: On June 26, 2017, the European Commission adopted guidelines on the disclosure of environmental and social information. These guidelines will help companies to disclose relevant non-financial information in a consistent and more comparable manner. The aim is to boost corporate transparency and performance, as well as encourage companies to embrace a more sustainable approach. For more information click here. (REF: IP/17/1702)

 

EDUCATION: According to Eurostat, the statistical office of the European Union, the EU celebrates 30 years of its Erasmus program. From Erasmus to Erasmus+, nine million people have now benefited from exchanges abroad. For more information click here. (REF: IP/17/1574)

 

EU: According to Eurostat, the statistical office of the European Union, euro area annual inflation is expected to be 1.3% in June 2017, down from 1.4% in May 2017. For more information click here. (REF: STAT/17/1863)

 

EU: According to Eurostat, the statistical office of the European Union, significant differences can be observed across the European Union regarding the sector in which government debt is held. Among Member States for which data are available, the share of public debt held by non-residents in 2016 was highest in Cyprus (79%), followed by Latvia (72%), Austria (71%), Finland (70%) and Lithuania (69%). For more information click here. (REF: STAT/17/1726)

 

EU: According to Eurostat, the statistical office of the European Union, Actual Individual Consumption is a measure of material welfare of households. Based on first preliminary estimates for 2016, AIC per capita expressed in Purchasing Power Standards (PPS) varied from 53% to 132% of the European Union average across the Member States. For more information click here. (REF: STAT/17/1641)

 

EU: On June 2, 2017, the 19th Summit between the European Union and the People's Republic of China took place in Brussels and brought a number of important developments to the bilateral relationship, as well as fresh impetus to a partnership that has a global impact. For more information click here. (REF: IP/17/1524)

 

EU: According to Eurostat, the statistical office of the European Union, in April 2017, compared with March 2017, industrial producer prices remained stable in both the euro area and the EU28. In March 2017, prices fell by 0.3% in the euro area and by 0.2% in the EU28. For more information click here. (REF: STAT/17/1518)

 

EU: According to Eurostat, the statistical office of the European Union, in April 2017 compared with March 2017, the seasonally adjusted volume of retail trade rose by 0.1% in the euro area and by 0.5% in the EU28. In March, the retail trade volume increased by 0.2% in the euro area, while it fell by 0.1% in the EU28. For more information click here. (REF: STAT/17/1539)

 

FINANCE: On June 28, 2017, the European Commission presented a reflection paper on the future of EU finances. The reflection paper maps out possible budgetary implications of the choices that can be made. For more information click here. (REF: IP/17/1795)

 

GDP: According to Eurostat, the statistical office of the European Union, seasonally adjusted GDP rose by 0.6% in both the euro area and the EU28 during the first quarter of 2017, compared with the previous quarter. In the fourth quarter of 2016, GDP grew by 0.5% and 0.6% respectively. For more information click here. (REF: STAT/17/1565)

 

HEALTH: On June 29, 2017, the European Commission adopted a new Action Plan to tackle Antimicrobial Resistance – a growing threat that is responsible for 25,000 deaths and a loss of 1.5 billion EUR in the EU every year. The Action Plan is underpinned by a One Health approach that addresses resistance in both humans and animals. In parallel, the European Commission adopted the first deliverable of the plan: EU Guidelines on the prudent use of antimicrobials in human health. For more information click here. (REF: IP/17/1762)

 

INNOVATION: On June 20, 2017, the European Commission published the latest Innovation Scoreboard. Overall, innovation performance has improved in 15 countries, though large differences still exist between Member States. Sweden remains the innovation leader while Lithuania, Malta, the Netherlands, Austria and UK are the fastest growing innovators. In a global perspective, the EU is catching up with Canada and the US, but South Korea and Japan are pulling ahead. China shows the fastest progress among international competitors. For more information click here. (REF: IP/17/1673)

 

JUSTICE: On June 8, 2017, 20 Member States in the Justice council reached a political agreement on the establishment of the new European Public Prosecutor's Office. Once in place, the independent EU public prosecutor will be equipped with the power to investigate and prosecute criminal cases affecting the EU budget, such as corruption or fraud with EU funds, or cross-border VAT fraud. It will be a strong, independent and efficient body specialized in fighting financial crime across the EU. For more information click here. (REF: IP/17/1550)

 

LABOR: According to Eurostat, the statistical office of the European Union, the job vacancy rate in the euro area was 1.9% in the first quarter of 2017, up from 1.7% recorded in both the previous quarter and the first quarter of 2016. In the EU28, the job vacancy rate was also 1.9% in the first quarter of 2017, up from 1.8% recorded in both the previous quarter and the first quarter of 2016. For more information click here. (REF: STAT/17/1678)

 

LABOR: According to Eurostat, the statistical office of the European Union, hourly labor costs rose by 1.5% in the euro area and by 1.7% in the EU28 in the first quarter of 2017, compared with the same quarter of the previous year. In the fourth quarter of 2016, hourly labor costs increased also by 1.5% and 1.7% respectively. For more information click here. (REF: STAT/17/1667)

 

LABOR: According to Eurostat, the statistical office of the European Union, the number of persons employed increased by 0.4% in both the euro area and in the EU28 in the first quarter of 2017 compared with the previous quarter. In the fourth quarter of 2016, employment increased also by 0.4% in both areas.These figures are seasonally adjusted. For more information click here. REF: STAT/17/1643)

 

PENSIONS: On June 29, 2017, the European Commission proposed a plan to create a new class of pension products. Consumers will soon benefit from a widerchoice when saving for retirement. This new type of voluntary personal pension is designed to give savers more options when they are putting money aside for old age and provide them with more competitive products. For more information click here.  (REF: IP/17/1800)

 

SECURITY: On June 29, 2017, the European Commission presented the eighth report on progress made towards an effective and genuine Security Union, calling for an acceleration of the ongoing work to enhance the security of EU citizens. For more information click here. (REF: IP/17/1789)

 

SECURITY: On June 29, 2017, the Euroepan Commission delivered on its commitment to ensure interoperability and address the existing shortcomings of EU information systems for security and border management. For more information click here. (REF: IP/17/1788)

 

TAX: On June 26, 2017, the Fourth Anti-Money Laundering Directive entered into force. It strengthens the existing rules and will make the fight against money laundering and terrorism financing more effective. It also improves transparency to prevent tax avoidance. For more information click here. REF: IP/17/1732)

 

TAX: On June 21, 2017, the European Commission proposed new transparency rules for intermediaries - such as tax advisors, accountants, banks and lawyers - who design and promote tax planning schemes for their clients. For more information click here. (REF: IP/17/1663)

 

TRADE: On June 26, 2017, the European Commission published a Report on Trade and Investment Barriers where the European exporters reported a 10% increase in the number of trade barriers they encountered in 2016. 372 such barriers were in place at the end of last year in over 50 trade destinations across the world. The 36 obstacles created in 2016 could affect EU exports that are currently worth around 27 billon EUR. For more information click here. (REF: IP/17/1765)

 

TRADE: On June 26, 2017, the new rules on cross-border insolvency proceedings, proposed by the European Commission in 2012 and adopted by the EU legislators in 2015 will enter into force throughout the European Union. The new rules aim at facilitating debt recovery in cross-border insolvency proceedings. They will make it easier for businesses to restructure and for creditors to get their money back. For more information click here. (REF: IP/17/1743)

 

TRANSPORATION: On June 23, 2017, the European Commission proposed to invest 2.7 billion EUR in 152 key transport projects that support competitive, clean and connected mobility in Europe. For more information click here. (REF: IP/17/1729)



 
 
 

Legislative and Policy Updates

Legislative and Policy Update_June 2017 (format: docx, size: 0.05 MB)
Legislative and Policy Update_April 2017 (format: doc, size: 0.29 MB)
   
 
 
 
 
Go to top