AGP Executive Report

Public Finances: Parliament approved Slovakia’s 2027 budget, setting the deficit at 4.94% of GDP, up from an expected 4.37% this year. The government says further savings will be needed to bring the deficit down in 2028 and 2029. Energy Cooperation: Slovakia and Bulgaria discussed a memorandum on nuclear power, gas supplies and renewables, including LNG access, storage and cross-border routes. Foreign Trade: Prime Minister Robert Fico plans to restart Slovakia’s economic commission with Russia on October 25, while also holding talks with Ukraine in November. Investment and Exports: A Chinese industrial group is moving a €117 million project from Slovakia to Morocco. Meanwhile, the Foreign Ministry says it has 41 economic diplomats abroad and plans to add two more to help Slovak firms enter overseas markets.

Investment: Chinese group Hangyu Technology is moving its planned $117 million forging plant from Slovakia to Morocco, citing delays in Slovak administrative procedures and clearer investment processes in Morocco. Energy Ties: Slovakia and Bulgaria are discussing a cooperation memorandum covering nuclear power, gas and renewables, including potential LNG supply and storage links between Bulgargaz and Slovak utility SPP. Competition: The EU approved Kimberly-Clark’s takeover of Kenvue only after requiring the sale of its feminine-hygiene brands, addressing concerns that the deal could reduce competition in Slovakia and other markets. EU Rules: Slovakia joined 12 other member states in urging the EU to simplify existing legislation and review compliance burdens before adding new obligations. Trade Links: During a visit to Thailand, Foreign Minister Juraj Blanár promoted Slovakia as a gateway to the EU and discussed cooperation in technology, energy, defence and water management.

Investment: Chinese group Hangyu Technology is moving its planned $117 million metal-forging project from Slovakia to Morocco, citing delays in Slovak administrative procedures and clearer investment rules there. Retail Competition: The European Commission has opened an in-depth probe into XXXLutz’s proposed takeover of Porta, citing competition concerns in Slovakia’s furniture market and possible effects on suppliers. Trade Links: Foreign Minister Juraj Blanár says Thailand could serve as Slovakia’s gateway to Southeast Asia, with talks covering cooperation in energy, IT, cybersecurity, defence and water management. Public Finances: Social spending is projected to exceed €20 billion next year, including higher pensions for people over 85 and €1.7 billion for family support; critics say payments alone will not address families’ needs. Energy: Prime Minister Robert Fico called reliable electricity at affordable prices essential to Slovakia’s competitiveness and stability, backing nuclear power as a pillar of future supply.

Public Finances: Slovakia’s social spending is forecast to exceed €20 billion in 2027, up €400 million on this year, with pensions taking the largest share. The draft budget faces opposition criticism over its deficit ahead of a parliamentary vote on Wednesday. Retail Competition: The European Commission has opened an in-depth probe into XXXLutz’s proposed takeover of Porta, citing potential competition concerns in furniture retail and purchasing in Slovakia, Czechia and Germany. Trade Links: Foreign Minister Juraj Blanár’s Thailand visit focused on exports, investment and technology. More than 20 Slovak companies joined the first Slovak-Thai Business Forum, with both countries pitching themselves as gateways to their wider regions. Energy Security: Slovakia is preparing to replace Russian gas with Azerbaijani supplies in 2027; the government says it has secured enough gas for this winter.

Energy Security: Slovakia is weighing Azerbaijani, Algerian and US gas contracts as it prepares to replace Russian supplies in 2027. Economy Minister Denisa Saková has also said the country has secured enough gas for this winter. Public Finances: Parliament is debating the 2027 budget, which Prime Minister Robert Fico expects to pass on Wednesday. Opposition MPs warn the deficit breaches debt-brake rules; Finance Minister Ladislav Kamenický says meeting the balanced-budget requirement would mean cuts of up to €7.5 billion. Trade Links: Foreign Minister Juraj Blanár’s visit to Thailand is focused on trade, investment and technology, with a business forum bringing together Slovak companies. He called Thailand a potential gateway to Southeast Asia, just as Slovakia can offer Thai businesses access to the EU. Industry: Slovak firm BK Investment has signed an agreement with Algeria’s recovery and valorisation enterprise to develop a project processing iron and steel waste, aimed at recovering materials and supporting circular production.

Energy Security: Slovakia says it has enough gas for winter under a Gazprom contract, while exploring suppliers including Azerbaijan, Algeria and the US as it prepares to replace Russian supplies in 2027. Public Finances: The government’s 2027 budget targets a deficit of 4.94% of GDP, drawing criticism from both government and opposition figures. Trade and Consumers: Slovakia recorded a trade deficit after six months of surpluses. Retail sales rose 1.6%, while the share of Slovaks classed as cautious savers jumped to 62%, up from 35% last year. Export Push: Foreign Minister Juraj Blanár is visiting Thailand and Australia with a business delegation to promote Slovak exports and explore trade, investment and technology links.

Trade Mission: Foreign Minister Juraj Blanár is visiting Thailand and Australia with a business delegation to promote Slovak exports and pursue trade, investment and technology links. His Thailand programme includes meetings with senior officials and business forums; it is the first visit by a Slovak foreign minister in 21 years. Energy Security: Slovakia says it has secured enough gas for winter, while Economy Minister Denisa Saková is seeking long-term US LNG supplies and alternatives to Russian oil ahead of the EU’s planned 2027 import ban. Public Finances: The government’s 2027 budget projects a deficit of 4.94% of GDP and has drawn criticism from both government and opposition figures. Trade: Slovakia recorded a trade deficit after six months of surpluses. Household Finances: A survey found 62% of Slovaks are now cautious savers, up from 35% last year and above the European average, amid economic uncertainty. Industry: Volkswagen has taken a 49% stake in the Šurany battery project, while Slovakia has bought out the Czech stake in the company behind a new nuclear project.

Energy: Prime Minister Robert Fico attacked EU sanctions after a reported US-Russia diesel deal, warning Europe could face higher fuel costs. Economy Minister Denisa Saková says winter gas is secured, with 17.5 TWh in storage and a Gazprom contract through September 2027; Slovakia is also seeking US LNG and alternative oil supplies. Household Finances: The share of Slovaks taking a cautious approach to savings jumped from 35% to 62%, well above the European average, as uncertainty weighs on confidence. Trade: Slovakia recorded a €125 million trade deficit in August, ending six months of surpluses, though the first-eight-month surplus held at €1.5 billion. Budget: The government’s 2027 budget projects a deficit of 4.94% of GDP and has drawn criticism from both government and opposition. Investment: Volkswagen has taken a 49% stake in the Šurany battery project, while Slovakia bought out the Czech stake in a company developing a new nuclear project. Technology: Tesla replaced “Full Self-Driving” with “Assisted Driving” on its Slovak website amid regulatory concerns over the feature’s name.

Household Finances: Nearly two-thirds of Slovaks now prioritize protecting savings and avoiding risk, up from 35% last year and well above the European average of 47%, an Intrum survey found. Trade: Slovakia recorded a €125 million trade deficit in August, ending six months of surpluses, as imports rose faster than exports; it still posted a €1.5 billion surplus for the first eight months. Energy Security: Gas supplies are secured for winter, with storage at 17.5 TWh and a Gazprom contract available until September 2027. Economy Minister Denisa Saková said Slovakia is also seeking US LNG and alternative oil routes. Public Finances: The government’s 2027 budget projects a deficit of 4.94% of GDP, drawing criticism from both government and opposition. Investment: Volkswagen has taken a 49% stake in the Šurany battery project, a significant step for Slovakia’s plans to expand its electric-vehicle supply chain.

Automotive: Tesla has replaced “Full Self-Driving” with “Tesla Assisted Driving” on its Slovak and other European websites after regulators raised concerns the name could mislead drivers. Slovakia could become the ninth EU country to approve the system. Energy Security: Slovakia says winter gas needs are covered, with storage at 17.5 TWh and a Gazprom contract running to September 2027. Economy Minister Denisa Saková is also discussing US LNG and alternative oil supplies, as Slovakia plans to phase out Russian oil by the end of 2027. Trade: Slovakia posted a €125 million trade deficit in August, ending six months of surpluses. Exports rose 5.4% year on year, but imports grew faster, by 7%; the country still recorded a €1.5 billion surplus for the first eight months. Public Finances: The government’s 2027 budget projects a deficit of 4.94% of GDP and has drawn criticism from both government and opposition figures. Investment: Volkswagen is taking a 49% stake in Slovakia’s Šurany battery project, joining a major planned investment in the country’s EV supply chain.

Energy Security: Slovakia says winter gas needs are covered by a Gazprom contract and storage holding 17.5 TWh, while Economy Minister Denisa Saková is seeking US LNG supplies and alternative oil routes ahead of the EU’s 2027 import ban. Trade: The country recorded a €125 million deficit in August, ending six months of surpluses as imports grew faster than exports; its surplus for the first eight months remained €1.5 billion. Public Finances: The government’s 2027 budget targets a deficit of 4.94% of GDP and has drawn criticism from both government and opposition figures. Foreign Investment: Foreign-controlled companies account for 28% of Slovak business-economy jobs and half of value added, among the highest shares in the EU. Nuclear Industry: Slovakia has moved to take full ownership of JESS, the company behind its new nuclear project.

2027 Budget: Slovakia’s draft budget sets a €7.44 billion deficit, or 4.94% of GDP, above this year’s projected 4.37%; government and opposition figures have criticised the plan. Foreign Investment: Foreign-controlled firms account for half of Slovakia’s business value added and 28% of jobs, among the highest shares in the EU, Eurostat data show. Energy Costs: Slovak fuel-industry groups joined five regional counterparts in urging Brussels to delay or revise green rules, warning they could add up to €1.40 per litre to fuel prices. Nuclear Power: Slovakia agreed to buy ČEZ’s 49% stake in JESS for €189.4 million, giving the state full ownership of the company preparing a new Bohunice plant. Investment Setback: Chinese aerospace supplier Hangyu Technology scrapped its planned Košice-region production base and is moving its project, worth up to €105 million, to Morocco after Slovak approval procedures delayed it.

Fiscal Outlook: Slovakia’s 2027 budget targets a deficit of 4.94% of GDP, drawing criticism over how the plan was presented. Coalition figures also say the transaction tax is due to be abolished at the end of 2027. Industry & Energy: Volkswagen is taking a 49% stake in the Šurany battery project, while Prime Minister Robert Fico argues that high energy prices are weakening industrial competitiveness and wants ETS2 delayed beyond 2030. Business & Technology: Bratislava-based Innovatrics is supplying identity checks for DigiSign’s online signing platform, which aims to serve signers in more than 120 countries. Consumer Economy: Slovak retail sales rose 1.6%.

Digital Services: Bratislava-based Innovatrics is powering DigiSign’s identity checks as the signing platform expands to more than 120 countries. Energy Costs: Robert Fico urged EU leaders to decouple electricity prices from gas and delay ETS2 carbon costs beyond 2030, saying high energy prices threaten Slovak industry and jobs. Public Finances: MPs are considering more flexible provisional-budget rules; the government’s 2027 budget targets a 4.94% deficit, while the Supreme Audit Office criticized how the draft was prepared. Business Climate: Slovakia ranks 43rd of 165 economies for economic freedom, scoring well in trade and monetary stability but poorly on government size and regulation. Investment: Volkswagen has taken a 49% stake in the Šurany battery project, a significant step for Slovakia’s electric-vehicle supply chain. Consumer Demand: Slovak retail sales rose 1.6%.

State Budget: Slovakia’s 2027 budget targets a deficit of 4.94% of GDP. Finance Minister Ladislav Kamenický says there will be no new business taxes or levies, but the Supreme Audit Office chief says the rushed process prevented scrutiny of key fiscal risks. Economic Outlook: The National Bank of Slovakia raised its 2026 growth forecast to 0.8% and sees inflation easing to 3.6%, while the government expects growth to accelerate to 1.8% next year. Retail sales rose 1.6%. Investment: Volkswagen is taking a 49% stake in the Šurany battery project, while Hyundai WIA has opened a Slovak plant to serve the European electric-vehicle market. Business and Technology: Bratislava-based Innovatrics is powering 24/7 access to unstaffed COOP Jednota stores with identity checks. Slovak biotech firm Sensible raised $47 million to expand its mRNA platform, with up to $20 million in potential government and EU support.

Slovak Public Finance: Slovakia’s government approved the final state budget for the parliamentary term with a 4.94% deficit of GDP, promising no new taxes but more spending for energy-price relief, nuclear policy, drought measures, and higher pay for schools, police and hospitals—opposition warns debt could still climb. Retail Demand: Slovakia’s retail sales rose 1.6% year-on-year in August after a small July dip, with growth led by specialized stores while supermarkets and hypermarkets fell and e-shops declined. EU Competition Rules: The European Commission issued revised dominance guidelines that shift enforcement toward presumptions of harm, with extra focus on digital platforms, rebates and self-preferencing—a signal for companies to review pricing and platform practices. Tech & Biotech Funding: Sensible Biotechnologies raised $47M (including potential up to €20M non-dilutive support from Slovakia and the EU) to scale its AI-enabled mRNA platform for therapeutic, repeat-dose medicines. Business & Trade Links: Slovakia and Cyprus agreed to deepen cooperation on EU competitiveness and security, including support for Cyprus joining Schengen. EU Enlargement Politics: Montenegro is pushing ahead in EU accession talks, while Slovakia’s foreign minister stresses the process must stay merit-based.