Slovakian Economy has bright perspectives, says OECD

06.11.2014

Secretary General of OECD together with the Prime-Minister of Slovakia presented the report, which the main attention is given to the country’s fast recovery from economic crisis. Slovakia is one of the strongest countries in Europe as to this measurement. Thus, Slovakian GDP presumably will rise by 2,6% this year, by 2,8% in 2015 and by 3,4% in 2016.

Economy of the country is getting more balanced regarding private consumption. Export is still playing an important role. However, the economy growth maybe slowed down if the introduction of the Euro will be delayed, the OECD says.

Source: http://www.oecd.org/newsroom/economic-activity-is-accelerating-in-the-slovak-republic.htm

Expert’s opinion

Since the time of the Czechoslovak common economy, between the Czech Republic and Slovakia was the division of the productive forces. Quite roughly speaking: Slovakia was raw materials and primary processing, Czech Republic was light industry and mechanical engineering. After the division, Slovakia faced problems of marketing its products. Money for infrastructure changes was short. However, the relevant policy and the right economic approach led to the expected result. Slovakia's economy is growing and developing rapidly, and the introduction of the euro will lead to even greater integration into European markets.

Slovak companies are a handy tool for the integration of you and your business into Europe.

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Yaroslav Lomakin ( Managing Partner Honest & Bright Company Ltd)