Economic Analysis of the Slovak Republic

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The task at hand, in this report, is to study available data and present economic analysis of Slovakia. The analysis will focus on economic issues such as the GDP (Gross Domestic Product), GDP growth rates, inflation and interest rates, unemployment rates, budget surpluses or deficits, public debt and etc. Also insides will be made in to the Current account of Slovakia. To be more precise the patterns of the exports and imports will be analysed. Another important element of the economic analysis, which will be covered, is the Foreign Direct Investment (FDI) and the impact it has on the country. The amount invested every year, the type of investment, the incentives of investing in Slovakia and the potential problems with investing in the country will all be of our interest.

The analysis will cover the economic performance of Slovakia in the last three years, the years 2000, 2001 and 2002. By the comparison of the economic performance in the last three years we are able to see how is the economy developing or declining as the entrance in the European Union is approaching. It was expected and known that Slovakia will enter the European Union some time soon, but this year in April the agreement was singed and a year from the singing date Slovakia, as well as around ten other countries, will become member of the European Union. This will mean economic development and advancement for Slovakia since it will enjoy the benefits of being a member of the EU, such as free trade zone, the change of the national currency in to Euro and so on. What is the destiny of Slovakia after the joining the EU is yet to be seen, but here, in this paper, I will try to point out in what condition the European Union will get Slovakia.

Slovakia is a relatively small country in Central Europe, covering an area of 49.035 sq. kilometers. Slovakia borders with five countries: Czech Republic in the West, Austria in the Southwest, Hungary in the Southeast

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