DOI: 10.21637/GT.2011.2.03.

Global economic crisis and the Slovak republic

LIPKOVÁ, L’udmilla

The presented article describes the situation of the Slovak republic in the conditions of the global economic and financial crisis. Main macroeconomic indicators of Slovakia are discussed to picture the economic situation of Slovakia during the three year crisis period and the implication on economic growth. It presents the current crisis as the worst one since the economic downfall connected with the transformation to a market oriented economy. The article also lists the main issues connected with the global economic downturn with respect to Slovakia, especially the declining foreign demand, challenges connected with the Euro accession and the opportunities of the export oriented growth after the crisis recovery.

KEYWORDS: global economic crisis, Slovak republic, transformation, export oriented growth, euro area, recession, recovery, economic policy

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