Economic Development of Slovakia in 2011 and Outlook Up to 2013
Economic Development of Slovakia in 2011 and Outlook Up to 2013
Author(s): Károly Morvay, Karol Frank, Veronika Hvozdíková, Tomáš Jeck, Ivan Okáli, Milan Šikula, Herta GabrielováSubject(s): Economy
Published by: Ekonomický ústav SAV a Prognostický ústav SAV
Keywords: economic growth; economic policy; post recession development; country study – Slovakia; forecast; production; balance of payments; external trade; labour market; public finance; monetary policy
Summary/Abstract: After the start of recovery (in 2010) from previous recession, the develop-ment 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 favorable 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 pes-simism 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.
Journal: Ekonomický časopis
- Issue Year: 60/2012
- Issue No: 06
- Page Range: 547-641
- Page Count: 95
- Language: English