OECD: Slovakia catches up with richer countries
Last update: 27.09.2005 06:00
Combination of sound macroeconomic policies, comprehensive tax and social welfare reform, and new regulations for the product, capital and labour markets, has resulted in an acceleration of growth over the past five years and has increased the pace with which Slovakia is catching up to the living standards of wealthier nations.
This fact is mentioned by the Survey of the Organisation for Economic Co-operation and Development (OECD) on economy development of
“The results of the reforms are noticeable. Val Koromzay, OECD Member States Economics Department Director and Co-Author of the Survey said: "We assess, that the value of potential economy growth of the
According to Ivan Mikloš, Deputy Prime Minister and Minister of Finance, the latest OECD survey confirms correctness of the Slovak reforms. "Unlike the Opposition, the internationally recognized institutions consider the Slovak reforms to be the successful ones and bringing the results,” Mikloš said.
According to OECD, besides decreasing the rate of unemployment, Slovakia within own development should in the close future direct its attention at ensuring the smooth transition to adopting the common Euro European currency, reform of public sector and support of innovations and growth.
Head of Press Department
OECD Economic Survey of the Slovak Republic (original version)