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

July 12, 2019

Preview Citation

Format: Chicago

Slovak Republic: 2019 Article IV Consultation-Press Release; Staff Report, (USA: International Monetary Fund, 2019) accessed November 21, 2024

Summary

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.

Subject: Banking, Expenditure, Exports, Financial institutions, Housing prices, International trade, Labor markets, Mortgages, Prices, Public debt

Keywords: Core inflation, CR, Credit growth, Europe, Executive board assessment, Exports, Global, Growth, Housing prices, IMF staff calculation, Interest rate, ISCR, Labor market, Liability positions vis-à-vis nonresident, Mortgages, Slovakia

Publication Details

Pages:

60
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2019/220
Stock No:

1SVKEA2019001
ISBN:

9781498325127
ISSN:

1934-7685

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