Hospodársky vývoj Slovenska v roku 2001 (Štúdia vypracovaná na požiadanie Európskej hospodárskej komisie OSN)
ECONOMIC DEVELOPMENT OF SLOVAKIA IN 2001 (Study Prepared on Behalf of United Nations Economic Commission for Europe)

Summary/Abstract: The revival of the economy growth in the year 2001 reached the level of solid expec-tations because of two factors. Firstly, it was the recession in the world economy, which started in the autumn of 2001 and retarded the growth in the Slovakia’s exports. Secondly, but not less important factor was the incomplete institutional and struc-tural reform required for the Slovak economy to obtain a better position in the sharp competition during the world recession period. Nevertheless, the uncompleted transformation should not hide the results, which were accomplished in Slovakia during the year 2001 owing to its preparation for the accession to the European Union. The progress of institutional and structural reform benefited from the approximation of the Slovak Republic legal system in order to com-ply with the standards in EU countries. At the same time, it was important to set up priorities for the economic policy of the Slovak Republic in a mutual document signed by the Slovak government and the European Commission. In pursuance of those priori-ties the revitalisation of the financial sector was almost fully completed. A progress was made in preparation of privatisation of big companies operating within energy industry and transportation sector. Under the pressure of much more rigorous budgetary limits many companies consolidated their financial situation. A certain progress was achieved regarding price deregulation. On the other side, however, the fulfilment of several transformation tasks legged behind because the ruling coalition was not able to find a consensus. In 2001 mainly the social and pension system reforms as well as the health care reform were not imple-mented and remained painful thus deteriorating the macroeconomic equilibrium. A serious problem is that the law enforcement reached far from the satisfactory degree and therefore debases the actual benefits from closing the chapters pulling the Slovak Re-public legislation closer to the EU standards.

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