Growth in Slovakia gathered pace in 2014, driven by a recovery in domestic demand, which is expected to remain the main motor of growth. Private consumption and investment picked up after several years of decline. Export growth weakened as demand from Slovakia's main trading partners declined, and it is projected to recover only in 2016. Employment grew in 2014, but unemployment is expected to remain above 12% in the coming years. Inflation collapsed in 2014, driven by a fall in energy prices, and is expected to slowly increase over the coming years. The government deficit increased considerably with the onset of the crisis but has been significantly declining since then. General government debt has stabilised since 2013 after rising during the crisis.
Read a complete analysis of Slovakia's economy in the country report 2015 [937 KB]
2015 recommendations in brief
The Commission has made four country-specific recommendations to Slovakia to help it improve its economic performance. These are in the areas of: taxation and health; labour market; education; infrastructure investment.