ECONOMIC DEVELOPMENT OF SLOVAKIA IN 2010 AND OUTLOOK UP TO 2012

• Authors: Morvay Karol , Ivan Okáli , Herta Gabrielová , Veronika Hvozdíková , Ivana Šikulová , Karol Frank , Tomáš Jeck
• Languages of publication: EN

Abstracts

EN

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 demand. Change of the government has also brought economic policy changes, their impact was not shown fully in the same year. The effects of external environment were more significant. 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 the unfavourable level: the inflation revives, high unemployment rate will remain, the public debt will grow, and the wage growth will be probably weak. In 2012 the higher growth should be associated with a better state of balance. Very likely it will strengthen the catching-up process.

Keywords

EN

ECONOMIC GROWTH; ECONOMIC POLICY; POST RECESSION DEVELOPMENT; SLOVAKIA; OUTLOOK; FORECAST; PRODUCTION; BALANCE OF PAYMENTS; EXTERNAL TRADE; LABOUR MARKET; PUBLIC FINANCE

• Publisher: Institute of Slovak and World Economics and Institute for Forecasting, Slovak Academy of Sciences
• Journal: Ekonomický časopis (Journal of Economics)
• Year: 2011
• Volume: 59
• Issue: 6
• Pages: 549 – 635

Contributors

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Morvay Karol

• Ekonomický ústav SAV, Šancova 56, 811 05 Bratislava, Slovak Republic

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Ivan Okáli

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Herta Gabrielová

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Veronika Hvozdíková

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Ivana Šikulová

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Karol Frank

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Tomáš Jeck