German Chamber: Business expectations in Slovakia, Germany dampened

The Slovak-German Trade and Industry Chamber (SNOPK) said at a press conference on Tuesday that Slovakia and Germany are close economic partners and that business expectations in both Slovakia and Germany are dampened, although there are positive signals as well. Markus Halt of SNOPK pointed out that over the past ten years, Slovakia and Germany have seen very similar economic developments. "Germany is the most important business partner for Slovakia and a very important investor," he stressed, adding that there are around 600 German companies in Slovakia employing more than 140,000 people. "A German boom also gives impetus to a Slovak boom," he said. However, the German economy is currently not the driving force behind any boom, and it's apparent that developments in Germany are worse than the European average, he added.