Slovakia economy history (part 2)

In the first article about Slovakia economy we have talk from 1989 with the fall of the socialist regime and the article finish in 2002 with the economic consolidation. So, we begin this article about the Slovakia economy history from 2002 when the economic reforms appear. 

From 2002 to 2006, the "Tatra Tiger" is the nickname that refers to the economy of Slovakia in this period with economic reforms. And during this period it is also the second government of Mikuláš Dzurinda. These economic reforms concern the tax system with a flat tax and a very simple system, then the labour market with an active labor market policy, also there are the pension reform and social, healthcare and education system adjustments. It is in a program of liberal economic reforms. Moreover, this period is marked by the increased interest of foreign investors and even more important in 2004, the EU accession and the beginning of the Euro adoption process. 

Now from 2007 to today, the government is moving towards left-wing policies (3x left wing and 1x right wing government). In 2009, there is successful adoption of euro but also global economic crisis which provoked anti-crisis policies. So, left-wing policies leaning towards state interventionism and welfare state. Also, a tax reform appears specially the demolition of the flat tax system. Today, Slovakia is a strong EU supporter and partner.

Now, different schemes to see the evolution of Slovakia economy in the theme of GDP (Gross Domestic Product) and the unemployment compared to the EU.

GDP growth 2000-2018

Unemployment since the economic crisis

Durand Maxime