Facts & Figures
Key Economic Indicators
Setting the scene
The division of Czechoslovakia in 1993 has proved more painful for Slovakia than for the Czech Republic: unemployment at the end of 1995 stood at about 14 per cent, though the economy appears to be recovering. Inflation stands at about 7.2 per cent (down from its 1993 high of 23.2 per cent) and GDP grew by 7.6 per cent in 1995. Despite these encouraging signs, foreign investment has been limited (US$730 million by the end of 1995).
The country's investment potential has been undermined by several issues, among them a lack of clarity in tax legislation and changes in the privatisation programme, including official policy which favours domestic over foreign investors. But the main source of uncertainty stems from the country's political difficulties.
The Slovak Republic's political scene since achieving statehood has been dominated by a power struggle between the Head of State, President Michal Kovac, and the Head of Government, Prime Minister Vladimir Meciar. The row between the two, which has resulted in a libel case against the Prime Minister, shows little sign of abating and has badly damaged the country's reputation in the West. A truce is vital if Slovakia is to fulfil its potential and meet its aspirations.
Miroslav Maxon, Minister of Finance
Karol Cesnek, Minister of Economy
Peter Bisák, Minister of Privatisation & Administration of National Property
Zora Kominkova PhD & Viktoria Muckova PhD, Institute of Monetary and Financial Studies, National Bank of Slovakia
Peter Mihok, Slovak Chamber of Trade and Commerce
Metallurgy, mining and geologyAssociation of Metallurgy, Mining Industry and Geology of the Slovak Republic
Strategy of the promotion of the entry of foreign investment into the Slovak Republic
The current economic situation in the Slovak Republic