The government’s recent fiscal consolidation package highlights the importance of following best practices in policy-making, especially regarding openness and engagement with stakeholders. While we recognize the need for fiscal consolidation to ensure the sustainability of public finances, we must also emphasize that the process lacked the promised transparency and participative governance. The absence of meaningful consultation has led to concerns within the business community.
The Rule of Law Initiative—a coalition of business associations and chambers of commerce—recently raised these issues in a joint statement, urging the government to adopt a more transparent and collaborative approach. Engaging all sectors of the economy and allowing adequate time for review and feedback are vital steps to foster trust between the government and the business community. Such a process ensures that policy decisions benefit from diverse perspectives, helping to prevent legal uncertainty and strengthen Slovakia’s investment climate.
However, the challenges to the rule of law in Slovakia extend beyond fiscal matters. Transparency, predictability, and accountability are crucial across all areas of governance. A consistent and reliable legal framework impacts not only economic policies but also the overall investment climate, judicial independence, and the fight against corruption. Strengthening the rule of law creates an environment where both domestic and foreign investors feel confident in the stability of their investments, allowing businesses to grow without fear of arbitrary decisions or legal uncertainty.
Former European Central Bank President Mario Draghi recently underscored the need for rule-based governance to maintain competitiveness and sustainability in Europe. For Slovakia, this is particularly relevant, as consistent adherence to the rule of law will directly influence the country’s ability to attract investment and foster growth. Predictability in the legislative process, effective enforcement of regulations, and judicial independence are all key elements that contribute to making Slovakia a stable and attractive destination for business.
To ensure long-term success, it is crucial for all stakeholders—including government, business, and civil society—to work together in strengthening the rule of law across all aspects of Slovak life. By addressing broader issues such as judicial efficiency, regulatory consistency, and anti-corruption measures, we can create a more stable, fair, and prosperous future for Slovakia.
Zuzana Serinová, Policy Officer, AmCham Slovakia
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