Seminárna práca: Economic growth and situation in Slovak republic

Current situation in Slovakia indicates the success of the former government and the economic growth is rising unexpectedly every year. There are tables of unemployment rates in Europe, GDP growth, inflation, and FDI flows. Those are the main indicators of economical growth and citizens’ well-being. Not every indicator is positive for the Slovakia and some results might have been even better.

Public finance balance
Most of the countries run a budget deficit which means that the country’s expenditures exceed its revenues. Scandinavian countries are among few that have a budget surplus. It is caused mainly by the high corporate income tax rates on global companies like IKEA and Nokia in Sweden and Finland respectively, which has significant participation on budget revenues in those countries. In Norway it is the oil that makes most of the budget revenue and the increasing prices of this black gold. Scandinavian countries have also small population and high GDP per capita because of their natural minerals like timber, fish, oil, etc. Ireland, to which Slovakia is sometimes compared, is a great example of a small country, which GDP per capita is over the EU average. The worst countries are Greece and Italy where the country’s debt exceeded its annual GDP.