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2019 OECD Economic Surveys: Slovak Republic 2019

image of OECD Economic Surveys: Slovak Republic 2019

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 are likely to decline in the future. Foreign direct investment has focused mainly on downstream activities, which, although generating high productivity growth in the past, have low value added. Faced with rapid wage increases, technological change and labour shortages, Slovakia needs to upgrade the skills of its workers to protect their longer-term employability and foster productivity gains.While poverty and inequality are low overall, the majority of Slovakia’s Roma, about 8% of the population, face extreme social exclusion, with very low employment, widespread poverty and low life expectancy. Providing better living standards and economic opportunities to the Roma will require well-coordinated efforts across social, housing, education and employment policies.

SPECIAL FEATURES: SOCIAL INTEGRATION OF ROMA; GLOBAL VALUE CHAINS

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Basic statistics of Slovak Republic, 2017

(Numbers in parentheses refer to the OECD average)1

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 10 December 2018. 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 9 January 2019.The Secretariat’s draft report was prepared for the Committee by Gabriel Machlica, Paul O’Brien and Claude Giorno under the supervision of Nicola Brandt and Peter Jarrett. The Survey also benefitted from consultancy work by Michaela Bednarik, Slavomir Hidaš and Sona Muzikarová. Statistical research assistance was provided by Klaus Pedersen, Isabelle Luong, Corinne Chanteloup, Damien Azzopardi and editorial support was provided by Elisabetta Pilati. The previous Survey of Slovak Republic was issued in June 2017.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.

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