Slovak Auto Industry Warns of Higher Taxes, Shift Away from EU
Sparks fly as robotic arms weld panels of automobiles on the production line at an auto plant in Zilina, Slovakia.
Photographer: Akos Stiller/BloombergSlovakia’s auto industry warned that Prime Minister Robert Fico’s government risks hurting a dominant sector in the country with tax increases and a geopolitical shift away from key trade partners.
Foreign investors are spurning the eastern European Union member state because it’s becoming too expensive — and unpredictable, according to Alexander Matusek, the head of Slovakia’s Automotive Industry Association.