HOSPODÁRSKY VÝVOJ SLOVENSKA V ROKU 2008

• Authors: Okáli Ivan , Morvay Karol , Frank Karol , Gabrielová Herta , Jeck Tomáš , Šikulová Ivana

Title variants

EN

Economic development of Slovakia in 2008

• Languages of publication: SK

Abstracts

EN

In 2008, preservation of political stability in Slovakia was coupled with continuity 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 totalling to 3.3%, while at the same time Slovakia has managed to comply with all nominal convergence 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 eventuates in the fact that after an era of successful economic development in 2005 - 2008, the Slovak economy faces the most serious recession since its transformation depression (at the beginning of 90s) and that its recession will be one of the deepest among the EU countries, too. The article 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.

Keywords

EN

BALANCE OF PAYMENTS; ECONOMIC GROWTH; ECONOMIC POLICY; EXTERNAL TRADE; FORECAST; FOREIGN DIRECT INVESTMENT; LABOUR MARKET; PRODUCTION; PUBLIC FINANCE; SLOVAKIA

Discipline

• ECONOMICS: ECONOMICS

• Publisher: Institute of Slovak and World Economics and Institute for Forecasting, Slovak Academy of Sciences
• Journal: Ekonomický časopis (Journal of Economics)
• Year: 2009
• Volume: 57
• Issue: 6
• Pages: 524-567
• Document type: ARTICLE

Contributors

author

Okáli Ivan

• Ekonomický ústav SAV, Šancová 56, 811 05 Bratislava, Slovakj Republic

author

Morvay Karol

author

Frank Karol

author

Gabrielová Herta

author

Jeck Tomáš

author

Šikulová Ivana

• Ivan Okali, Ekonomicky ustav SAV, Sancova 56, 811 05 Bratislava, Slovak Republic; www.ec.sav.sk

Identifiers

CEJSH db identifier

10SKAAAA08568