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The Slovak economy has been relatively resilient to the energy crisis, but growth has slowed amid high inflation, weakening foreign demand and tightening financial conditions. The pandemic and the energy crisis have deteriorated public finances; steady fiscal consolidation is now needed to rebuild fiscal buffers and improve long-term fiscal sustainability in the face of rapid population ageing. Sustaining economic convergence and facilitating inclusive structural change requires improving skill provision at all stages of the learning cycle, fostering the domestic innovation capacity and improving the business environment.
After a deep recession in 2020, economic activity has rebounded. However, supply disruptions and a low vaccination rate are making the future pace of the recovery more uncertain.
The Slovak economy remains strong. Thanks to sustained economic growth, almost 4% on average in the last two decades, living standards have converged towards the OECD average. The economy has benefitted from strong integration into global value chains, but the gains from this integration ...
OECD's periodic survey of the economy of the Slovak Republic. This edition includes chapters covering emerging from the crisis, public sector efficiency and greener growth.
Slovakia’s economy continues to perform extremely well both in terms of macroeconomic outcomes and public finances. Employment is rising, prices have been stable, and the external account is near balance.
Estonia’s economy continues to perform well, and growing incomes support well-being. However, the expansion has peaked, and growth is set to soften due to weak international demand. Prudent fiscal policy has resulted in low debt, but spending pressures related to meeting infrastructure needs and ageing are mounting. Old age poverty is high and the proposal to allow early withdrawal of pension funds threatens macroeconomic stability and pension adequacy. The gender wage gap is among the highest in the OECD, and inequalities in income and health are considerable, reflecting gaps in the social safety net. The oil-shale sector is highly energy-intensive and is the main culprit behind Estonia’s high greenhouse gas emissions, but reducing dependence on the sector is challenging, as it is an important employer and meets 70% of Estonia’s energy needs.
OECD's 2014 Economic Survey of the Slovak Republic examines recent economic developments, policies and prospects. Special chapters cover reforming the public sector and spurring growth in lagging regions.
This 2004 edition of OECD's periodic review of the Slovak economy includes special features on rationalising public spending, and structural reforms for enterprise and job creation.