Economic Development of Slovakia in 2010 and Outlook Up to 2012
Economic Development of Slovakia in 2010 and Outlook Up to 2012
Author(s): Károly Morvay, Karol Frank, Veronika Hvozdíková, Tomáš Jeck, Ivan Okáli, Herta Gabrielová, Ivana ŠikulováSubject(s): Economy
Published by: Ekonomický ústav SAV a Prognostický ústav SAV
Keywords: economic growth; economic policy; post recession development; country study – Slovakia; forecast; production; balance of payments; external trade; labour market; public finance; monetary policy
Summary/Abstract: Economic development of Slovakia in 2010 was marked by the decline of recession symptoms. Recession was replaced by a recovery, strongly differentiated by sectors. The economy has responded well to the signs of recovery in external de-mand. Change of government has also brought economic policy changes, their impact was not shown fully in the same year. More significant were the effects of external environment. The labour market responded to the renewed performance growth with delay. The outlook reflects the expectation of continuing economic policy changes, including fiscal consolidation. The performance of the economy in 2011 will return to pre-recession levels, but some indicators will remain on unfavourable level: the inflation revives, high unemployment rate will remain, the pub-lic debt will grow, and the wage growth will be probably weak. In 2012 should be the higher growth associated with a better state of balance. Very likely it will strengthen the catching-up process.
Journal: Ekonomický časopis
- Issue Year: 59/2011
- Issue No: 06
- Page Range: 549-636
- Page Count: 87
- Language: English
