Slovak Republic: 2019 Article IV Consultation-Press Release; Staff Report

International Monetary Fund

No 2019/220, IMF Staff Country Reports from International Monetary Fund

Abstract: Leveraging its location and low-cost skilled labor, Slovakia has attained a very high level of integration with the global value chains, which has proved pivotal to exports growth and income convergence with the European Union. After half a decade of robust growth, the Slovak economy is decelerating. With rising trade tensions and a turning economic cycle, several vulnerabilities are coming to the fore. High dependence on exports combined with a concentrated export structure makes Slovakia particularly vulnerable to external developments. On the domestic front, a prolonged period of double-digit mortgage credit growth and declining bank profit margins have made households and the financial sector susceptible to labor and property market downturns.

Keywords: ISCR; CR; Slovakia; IMF staff calculation; labor market; credit growth; growth; liability positions vis-à-vis nonresident; core inflation; executive board assessment; interest rate; Housing prices; Mortgages; Exports; Global; Europe (search for similar items in EconPapers)
Pages: 60
Date: 2019-07-12
New Economics Papers: this item is included in nep-mac
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