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HOSPODÁRSKY VÝVOJ SLOVENSKA V ROKU 2007

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Okáli I., Frank K., Gabrielová H., Jeck T., Morvay K., Rumpelová D., Šikulová I.
Ekonomický časopis (Journal of Economics)
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2008
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vol. 56
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issue 5
435-476
EN
The balanced positive development of the Slovak economy continued also in 2007 within the economic-political and institutional settings formed by reforms of the former governments. The present left-wing government introduced some slight corrections into the economy, in particular by strengthening the social dimension of using economic results. The positive trends in economic growth, macroeconomic stability and social situation of the population confirm that the corrections of economic reforms have only a partial character and they did not have any impact on the dynamics of the economy in 2007. The rapid economic growth was induced particularly by activities of the foreign investors. On the demand side, mainly growth of household and investment demand as well as growth of net export contributed to the economic growth. The paper deals also with development of production, external economic relations, labour market, monetary policy and public finance.
2

HOSPODÁRSKY VÝVOJ SLOVENSKA V ROKU 2008

100%
Okáli I., Morvay K., Frank K., Gabrielová H., Jeck T., Šikulová I.
Ekonomický časopis (Journal of Economics)
|
2009
|
vol. 57
|
issue 6
524-567
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.
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