The biggest economic challenges ahead of Slovakia in the near future are long-term unemployment, reform of the first (pay-as-you-go) pension pillar, support for employment of young people, education and research, Prime Minister Iveta Radičová announced following a meeting on Thursday, November 25, with Organisation for Economic Co-operation and Development (OECD) Secretary-General Angel Gurría.
“The challenges arising from the OECD analyses are well-known to us,” she added, as quoted by the SITA newswire. Gurría praised Slovakia’s past economic progress but noted that, as with other economies, it is in a complicated and turbulent global environment. He spoke highly of the fiscal consolidation effort by the incumbent government and its planned reforms.
Gurría came to Bratislava to present the latest OECD report on the Slovak Republic. The latest prognosis estimates that Slovakia's economic growth will slow to about 3.5 percent next year due to fiscal consolidation measures and weaker forecast demand from the country's main trading partners.
Compiled by Zuzana Vilikovská from press reports
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25. Nov 2010 at 14:00