Hospodársky vývoj Slovenska v roku 2008
Economic Development of Slovakia in 2008

Summary/Abstract: In 2008, preservation of political stability in Slovakia was coupled with con-tinuity in a quite satisfactory economic-policy framework’s influence on the real economy. This has been reflected in GDP growth rate surpassing 6%, in the employment rate growing by 3.2% and real wages growth totaling to 3.3%, while at the same time Slovakia has managed to comply with all nominal con-vergence criteria, meeting the levels required for the Euro zone accession (from 1 January 2009). However, in consequence of the upcoming global economic crisis, the last quarter of 2008 brings a turnabout in the positive development trends also as regards the Slovak economy. Extremely open economy of the SR and its vulnerability to swings in the business cycle of the world economy even-tuates in the fact that after an era of successful economic development in 2005 – 2008, the Slovak economy faces the most serious recession since its transforma-tion depression (at the beginning of 90s) and that its recession will be one of the deepest among the EU countries, too. The study predicts GDP contraction by 6 – 7.5% in 2009, unemployment rate swelling to 11.2 – 12.5% and disinflation as a probable attendant phenomenon of the recession.

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