In Slovakia, non-monetary transfers are often forgotten due to the contributions system – this is set up so that only self-employed know, with exaggeration, how expensive it is. Most employees have no idea that the employer pays an additional 35% to their gross wage.
INESS created a brand new index called Health for Money, which rates healthcare in 26 countries, having also money in focus. The index touches also academia, measuring number of quotable medical papers from the country, or international rankings of faculties of medicine.
Crumbled and scattered parcels, inaccessible fields, frauds with farming subsidies, and problems with floods and droughts – this is the reality of Slovak agriculture. Extreme fragmentation makes it impossible to use land efficiently.
The Economics Olympiad was launched in 2017 with a participation of 4,000 high school students. This year, the competition enjoyed even more popularity with more than 5,300 contestants overall.
In the beginning of 2019, the governmental Institute of Financial Policy (IFP) came with the issue of tax on sugar. However, we believe that in this case once again, the tax discussion precedes the discussion about the core problem – obesity. Therefore, INESS prepared a new publication entitled “Bitter Tax on Sugar”.
Several East European countries have been flirting with various forms of a “retailer tax”. A tax similar (but not equal) to VAT, or the sales tax. Its proclaimed aim is typically to “punish” international retail chains, which have been repeatedly blamed for problems of local farmers and local food and beverages industry.
Institute of Economic and Social Studies (INESS) has been organizing Free Market Road Show for a few years now. This year, the 11th conference to be held in Bratislava hosted discussions that tackled multiple economic issues as well as their possible solutions.
Slovakia has managed to muster a constitutional majority passing a bill that would have a detrimental effect on the stability of the Slovak public finances in the long run. The measure is the constitutional limit of the retirement age now set at 64 for men and 63 for women (with two kids).
The ruling politicians are unfortunately going in the opposite direction. While a person working for a minimum wage in 2015 paid 29% in taxes and levies, with the planned minimum wage, they will pay more than 40% next year.