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In the past year, Slovakia has made considerable progress in recovering its economic dynamism. GDP is set to grow by 2.6% in 2014 and 2.8% in 2015, double the rate of 2013. We estimate that the rate of economic expansion will increase further in 2016 to reach 3.4%. Slovakia’s real GDP per capita is now further ahead of pre-crisis levels – than in any other Eurozone country.
Slovakia’s growth performance has improved, but there is still a lot to get growth back to pre-crisis rates, and to ensure all regions and segments of society can benefit. The country is still facing worryingly high levels of unemployment, which peaked at 14% in 2013. Two-thirds of those without jobs were affected by long-term unemployment.
It is both impressive and inspiring to see how far Slovakia has come. Prior to 2004, the Slovak Republic was eligible to receive development assistance, now, in less than a decade; it is becoming a provider of development co-operation, said OECD Secretary-General.
Prime Minister Fico has defined as a key priority of his Government the implementation of a programme for social stability, aiming at alleviating the impacts of the crisis and establishing long-term goals for the economic, social, environmental and technological development of Slovakia, said OECD Secretary-General.
Due to the rapidly changing world we need to be focused on tackling the social consequences of the crisis, fight poverty and social exclusion, exploiting in particular the potential of a green economy to promote growth and competitiveness. We are inspired by the OECD work in all these areas, said the Prime Minister of the Slovak Republic to the OECD Council.
At an event to mark the 20th anniversary of the fall of the Berlin Wall, Mr. Gurría talked about the progress made by Central and Eastern European countries since then and the challenges ahead.
At a meeting with Slovak Economists, Mr. Gurría underlined that the OECD has developed a strategic response to deal with the current situation, while at the same time addressing the interaction between different policy actions in our economies.