In 2015 the European Commission 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.

2016 Country report on Economic outlook

The Commission publishes macroeconomic forecasts for the EU and the Member States three times a year, in the spring (May), in the autumn (November) and in the winter (February). These forecasts are produced by the Directorate-General for Economic and Financial Affairs (DG ECFIN).

 The general election in March 2016 produced a fragmented parliament, with the governing Direction-Social Democracy (Smer-SD) remaining the largest party but losing its absolute majority. The far right made significant inroads.  The broad coalition that emerged is likely to prove unstable. We forecast real GDP growth of 2.6% in 2016 and expect annual average growth of 2.5% in 2017-20.

slovak economy in table

EU states in 2015 in brief

The 28 countries of the EU grew 0.3 percent in the fourth quarter of 2015 while the growth rate for the whole year was 1.8 percent, the statistics agency Eurostat announced on February 12. The euro area reported growth of 1.5 percent for the full year of 2015. In the last three months of the year, eurozone members grew 0.3 percent, compared with the previous three months.

 

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