ISKUSTVA I REZULTATI PRIMJENE REŽIMA DEVIZNOG KURSA U SLOVAČKOJ REPUBLICI
EXPERIENCES AND RESULTS OF THE APPLICATION OF THE FOREIGN EXCHANGE REGIME IN SLOVAKIA

Summary/Abstract: In open economies, economic policymakers are motivated by the goals of achieving internal and external balance. Simply put, the internal balance requires the full employment of national resources and the stability of domestic prices, and the external balance achieving the balance of the current account. During its transition, the Slovak Republic has successfully adapted the policy of conducting the foreign exchange rate regime to achieve the goal of achieving internal and external balance. It worked sensibly, timely and successful. The experience of the Slovak Republic in managing the exchange rate policy can serve as a good guideline for other transition countries. The Slovak Republic is one of the most successful transition countries, among the leading in attracting foreign direct investments, achieved by high growth rates of real gross domestic product, export-oriented economy, whose development engine is made up of factories of large multinational companies.

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