OECD Economic Surveys: Slovak Republic 2009 (ECONOMIE)

Economics Department

Contents:

  • Improving the Fiscal Framework to Enhance Growth in an Era of Fiscal Consolidation in Slovakia
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  • Economy of the Czech Republic

    • While the recently established fiscal rules have significantly improved the fiscal framework, a further strengthening in medium-term fiscal discipline will be necessary to avoid pro-cyclical fiscal policy.

    Improving the Fiscal Framework to Enhance Growth in an Era of Fiscal Consolidation in Slovakia

    Raising the effectiveness of tax collection, reforming the tax structure towards less distortive taxes and making more out of available EU funds would also play a helpful role in a growth-friendly fiscal consolidation. Finally, more needs to be done to ensure an adequate prioritisation of spending and an efficient use of public revenues. In particular, stepping up the analytical monitoring, evaluation and assessment capacity in spending ministries should help to rein in wasteful spending.

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    Slovak Economy - Bright Outlook Should Prevail I Erste Group

    This section needs expansion. You can help by adding to it. Energy in the Czech Republic.

    Foreign relations of the Czech Republic. International rankings of the Czech Republic. Czech Republic portal Economics portal. Retrieved 14 November Accessed on 17 April Database updated on 12 April Accessed on 21 April Central Intelligence Agency World Factbook. Retrieved 14 February Retrieved 29 October Retrieved 15 March Retrieved 7 September Do Ruska jde minimum.

    Retrieved 24 July Retrieved 9 June Country factsheet - Czech Republic.

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    Retrieved 29 May Retrieved 14 August Retrieved 9 November Czech Republic weighs nuclear options. Retrieved 18 December Czech lands Protected areas Regions Rivers Urban planning. Crime Demographics Education Healthcare Religion. Member states of the European Union. Future enlargement of the European Union.

    Multinational Enterprises Testing of Chemicals. Retrieved from " https: Slovakia is still facing crucial challenges in promoting stronger, more inclusive and more sustainable growth.

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    Across a range of dimensions, and particularly when it comes to labour market security, Slovakia scores poorly compared to the rest of the OECD, and to its closest neighbours. As you know, these are not challenges unique to Slovakia, but there are many measures you can take here to start creating more and better jobs.

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    For example, active labour market policies can be used to much greater effect to get people back to work. Labour mobility could also be greatly improved by firmly establishing a rental housing market so that it becomes a viable alternative to near-universal home-ownership. In addition, there is an urgent need to improve the education system in order to support the transition from school-to-work. Thus, the establishment of a dual system for vocational education is welcome and further developing early childhood education can make a big difference down the road.

    The country can also do better in terms of public sector efficiency. This presents a real challenge in the case of important cross-sectoral issues like ageing. Demographic spending pressures are due to rise considerably, as Slovakia will have the steepest increase in the old-age dependency ratio of all EU member states up to There is a clear need for far-reaching efficiency-enhancing reforms across the public sector.

    For example, improving tax collection will increase revenues and address public perceptions of corruption and injustice. Action is also needed to reduce government regulation in the professional services and retail, which are amongst the most restrictive in the OECD.

    This undermines competition and dampens potential growth. Last, but certainly not least, regional disparities pose an acute challenge; with economic activity and wealth highly concentrated in the West of the country.

    Economy of the Czech Republic

    This is reflected in the regional disparity of GDP per capita: Bratislava is the 6 th richest region in Europe, but the next richest region in the country — Western Slovakia, without the capital — ranks just th! This would help firms in the East reach the more dynamic Bratislava market and from there to access Global Value Chains.

    Outlays. 0. 5. % of labour force. C. Unemployment rate. SLOVAK REPUBLIC. OECD. Visegrad countries¹. Data and research on economic surveys and country surveillance, Slovak Republic OECD Economic Survey investing in the future from OECD.

    And to boost investment in the Eastern and Central regions you must ensure that local firms and workers possess, respectively, the necessary capacity and the skills to innovate and adopt new technologies.