OECD Economic Surveys: Slovak Republic 2009: (Complete Edition - ISBN 9789264047792)

Source: OECD Economic Surveys, Volume 2009, Number 2, February 2009 , pp. i-111(112)

Publisher: OECD - Organisation for Economic Co-operation and Development

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Abstract:

This 2009 edition of OECD's periodic review of the Slovak Republic's economy finds it facing a significant slowdown. Income levels are continuing to converge with those in the rest of the EU, but additional structural reform is required to make the economy more flexible. Special chapters on fiscal policy and housing policy are included along with suggestions for improving the pension system.

Executive Summary

Assessment and Recommendations
Chapter 1. Key Challenges
-The economy faces a significant slowdown

-Income levels have continued to converge

-But significant differences remain

-Challenges of Euro Area entry

-In particular for a catching-up country

-Require structural reforms to make the economy more flexible

-Addressing past recommendations in labour market and education policies

-While focusing on the new challenges associated with Euro Area entry

Chapter 2. Raising Flexibility during the Catch-Up Phase

-Nominal convergence before and after Euro Area entry

-Raising Wage Flexibility