OECD Economic Surveys: Slovak Republic

English
Frequency
Every 18 months
ISSN: 
1999-0588 (online)
ISSN: 
1995-3526 (print)
DOI: 
10.1787/19990588
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OECD’s periodic surveys of the Slovak economy. Each edition surveys the major challenges faced by the country, evaluates the short-term outlook, and makes specific policy recommendations. Special chapters take a more detailed look at specific challenges. Extensive statistical information is included in charts and graphs.

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OECD Economic Surveys: Slovak Republic 2017

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English
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Author(s):
OECD
21 June 2017
Pages:
145
ISBN:
9789264277557 (EPUB) ; 9789264277540 (PDF) ;9789264277533(print)
DOI: 
10.1787/eco_surveys-svk-2017-en

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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. Poverty and income inequality are low, and the country’s environmental footprint has improved markedly. However, population ageing, projected to be one of the steepest in the OECD on the basis of the expected change in the old-age dependency ratio, will pose policy and social challenges in the decades ahead. They will be compounded by the persistent emigration of young, particularly educated people, as well as the weak integration of the numerous Roma. Other concerns are the work disincentives faced by women and high long-term unemployment. Widely different labour market outcomes between Bratislava and the eastern part of the country also contribute to large regional per capita GDP gaps and a dual functioning of the economy. The authorities have continued their reform process over the last few years to address these issues, which require improving public-sector efficiency. Making growth more inclusive for the Roma, women and the chronically unemployed will require further reforms in education, health care and the labour market, along with better infrastructure.

SPECIAL FEATURES: ENHANCING SKILLS; IMPROVING THE HEALTH-CARE SYSTEM

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  • Basic statistics of Slovak Republic, 2016

    This Survey is published on the responsibility of the Economic and Development Review Committee of the OECD, which is charged with the examination of the economic situation of member countries.The economic situation and policies of the Slovak republic were reviewed by the Committee on 6 April 2017. The draft report was then revised in the light of the discussions and given final approval as the agreed report of the whole Committee on 23 May 2017.The Secretariat’s draft report was prepared for the Committee by Claude Giorno and Gabriel Machlica under the supervision of Peter Jarrett. The Survey also benefitted from consultancy work by Martin Haluš, Kristína Londáková, Michaela Černěnko, Dávid Martinák and Ján Toman. Statistical assistance was provided by Paula Adamczyk, Béatrice Guerard and Eun Jung Kim and editorial assistance by Amelia Godber.The previous Survey of the Slovak Republic was issued in November 2014.Information about the latest as well as previous Surveys and more information about how Surveys are prepared is available at www.oecd.org/eco/surveys.

  • Executive summary
  • Assessment and recommendations
  • Progress in structural reform

    This table reviews action taken on recommendations from previous Surveys. Recommendations that are new in this Survey are listed at the end of the relevant chapter.

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  • Expand / Collapse Hide / Show all Abstracts Thematic chapters

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    • Enhancing advanced skills to better meet labour market demand

      Changing labour market demand and moving up the global value chain requires high-skilled workers. However, the share of adults with high skill levels in the Slovak Republic is one of the lowest in the OECD. Improving the education system would raise quality and better align students’ skills with new labour market needs and help them face further changes in the work environment. The contribution of the tertiary education system to skills improvement is one of the lowest in the OECD. It has to open itself more to the outside world: by easing the conditions for foreign professors and researchers to teach at Slovak universities, promoting internationally respected research and intensifying the co-operation with the business sector. Another challenge is to secure an adequate supply of skilled workers in the face of rapid population ageing and increasing emigration of young high-skilled workers. Ageing of the population will not only lead to shrinking labour supply, but a growing part of the workforce will need to be retrained. Bolstering the supply of skills requires lifelong learning and attracting skilled migrants, including returning Slovaks.

    • Improving the efficiency and outcomes of the Slovak health-care system

      Despite improvements over the past few decades, Slovak health outcomes remain poor compared with most other OECD countries, even after controlling for differences in per capita income and other social, cultural and lifestyle factors. Disparities in access to care and health outcomes between the Roma and the rest of the population are large. Moreover, the health-care system is a source of general discontent because of high out-of-pocket payments, long waiting lists for some medical services and widely perceived mismanagement of public health-care spending. Health-care spending is currently about in line with the country’s standard of living. However, improving the efficiency of this sector is key: meeting the rising demand for medical services in the coming decades while containing government spending to maintain sound public finances will be challenging. The most pressing issues to be addressed concern: enhancing the efficiency and quality of primary care; addressing the shortage of nurses and replacing the large number of retiring physicians; modernising hospital infrastructure and management; further tightening control over pharmaceutical and other ancillary spending; developing a comprehensive strategy for long-term care; promoting better care access for the Roma population; and improving lifestyles through well-designed public health and disease-prevention policies.

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