ÚEOS - Komercia, a.s

Lenko Vladimír
Mail: lenko@ueos.sk
Web: www.ueos.sk

Successful development of Slovak economy hold also in the year 2005. Annual growth of GDP in constant prices will be higher then 5.5 %. High growth of economy was affected by investment, by right reforms, but also by pressure for stepwise limiting of public expenditures or increase of attractiveness of labor counter of receiving of social allowances. Government realized tax reform (single income tax rate of 19 %; single VAT rate of 19 %), reforms of health care and pension systems are proceeding. After resignation of one member of government coalition government fell into crises, therefore new, premature elections will take place on June 17th 2006 (regular elections date in autumn 2006). Results of elections could affect state budgets for following years, and in consequence also volume of financial means, exerted on construction investment from state budget.

Building in Slovakia is even faster. After longer stagnation period, Slovak construction is on rising curve of its development. Fast growth of construction is called mostly by governmental expenditures and EU funds, directed to highway - construction as well as investors, building new industrial plants - mainly for car production industry. Besides highways and railways, industrial plants are only constructions, dominant also outside of capital Bratislava. By concentration of financial sources on the investment market, several potential investment companies are profiled, among them also some solvent developers. Their investment projects significantly supported and still supports current constructional boom (administration complexes, shopping centers).

According to preliminary data represented inland constructional production in the year 2005 - 3093 Mill EUR, which represents growth in constant prices in comparison with last year by about 14 %. Annual growth of constructional production represented in 2004 - 5.2 %. Inland constructional production shared in the year 2005 in works in new construction, reconstruction and modernization by 80 % and in works in repairs and maintenance by 19.5 %. Besides works in inland, constructional production was realized also abroad, in the level of 136,3 Mill EUR, which represents in comparison with 2004 growth by 9.2 % in constant prices.

Selected indicators on construction enterprises by size structure

Structure of construction production by company size in 2005