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2017 OECD Economic Surveys: Slovak Republic 2017

image of OECD Economic Surveys: Slovak Republic 2017

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

(Numbers in parentheses refer to the OECD average)

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.

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