Slovakia at the cross roads

OECD Observer

The OECD's February 1999 report on the Slovak economy - OECD Economic Survey, Slovak Republic

After a period of strong growth, the Slovak economy has reached a turning point. Macroeconomic imbalances have become unsustainable and a more stable development strategy is now required. Designing and implementing that strategy has been the main task facing the new government.

A co-ordinated approach to reform and macroeconomic stabilisation: that is the central recommendation of the latest OECD Economic Survey of the Slovak Republic. The new government which emerged from the parliamentary elections of September 1998 appears to agree and has signalled its determination to act on that front. Notably, a key element of its adjustment package approved in January 1999 is a substantial fiscal tightening. The target for 1999 is a general government deficit of the order of 2% of GDP, down from above 5% in 1998. The government hopes to achieve this objective by reducing public infrastructure investment, putting a freeze on government wages and raising excise taxes. (...)

©OECD Observer No 216, March 1999 




Economic data

GDP growth: +0.2% Q4 2019
Consumer price inflation: 2.3% January 2020
Trade (G20): -0.1% exp, -1.3% imp, Q4 2019
Unemployment: 5.1% January 2020
Last update: 11 March 2020

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