ECONOMIC DEVELOPMENT OF SLOVAKIA IN 2011 AND OUTLOOK UP TO 2013

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

Abstracts

EN

After the start of recovery (in 2010) from previous recession, the development of the Slovak economy in 2011 became more volatile. In the first half of 2011 the positive tendencies continued and the economic development was more favourable than expected, in the second half of 2011 renewed concerns about a new recession emerged. In 2011, some significant changes in development tendencies occurred: the price level growth revived, the public finance balance improved and the employment growth was observed after a longer period. The impacts of debt crisis and the pessimism connected with it were at the time not as negative as expected earlier. Therefore, we are not seeing the recession as the most likely development scenario up to 2013. We are expecting that the economic development in the upcoming years will be accompanied by relatively weak economic growth, with some signs of instability. For the policy makers it will be important, in addition to the stabilization and public finance consolidation, to restore the confidence of economic agents in the economy.

Keywords

EN

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

• Publisher: Institute of Slovak and World Economics and Institute for Forecasting, Slovak Academy of Sciences
• Journal: Ekonomický časopis (Journal of Economics)
• Year: 2012
• Volume: 60
• Issue: 6
• Pages: 547 – 641

Contributors

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Morvay Karol

• Ekonomický ústav SAV, Šancová 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