Structural Reforms For Long-Term Development
Transformation Success Story
✓ Small and effective government
✓ Sustainably robust GDP growth
✓ High share of investment to GDP
✓ Export-oriented economy
✓ Commitment to fiscal discipline
✓ Low debt and stable external account
ARDAL
SLOVAKIA
2015
2016
2017
2018
2019e
2020e
Real GDP Growth (in %)
Private Consumption
4.2
3.1
3.2
4.1
4.1
3.5
2.2
2.9
3.5
3.0
3.2
3.0
Public Consumption
Gross fixed capital formation
5.4
1.6
1.7
1.9
1.4
1.6
21.9
(9.4)
3.4
6.8
2.2
3.0
Exports (goods and services)
6.0
5.5
5.9
4.8
8.0
7.0
Imports (goods and services)
8.0
3.4
5.3
5.3
6.8
6.3
GNI (real growth in %, adjusted by GDP deflator)
2.9
3.8
3.1
4.6 (e)
4.1
3.5
Employment Growth (% p.a.)
2.0
2.4
2.2
1.7 (e)
1.0
0.6
Unemployment rate (% of labour Force)
11.5
9.6
8.1
6.6
6.3
6.0
Inflation (HICP) (% p.a.)
(0.3)
(0.5)
1.3
2.5
2.5
2.4
General government balance (% of GDP)
(2.6)
(2.2)
(0.8)
(0.6) (e)
(0.3)
(0.1)
Sources: Eurostat, EC Autumn Forecast 2018, EC Winter (interim) Forecast for forecasts of GDP and inflation
*last available value for GNI is for 2017
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