2020 - Ten years of real convergence to go!

In a very thoughtful paper "Strategy for Development of the Slovak Society" produced at the behest of the slovak cabinet, it is a document that outlines how Slovakia will achieve the continuation of the remarkable convergence it is already enjoying with the average northern european countries of the old EU (15).

Slovakia’s economic performance can come considerably close to the average of economies of the EU by the year 2020, says the paper called Strategy for Development of the Slovak Society that the Cabinet acknowledged on Wednesday.

The recession, a consequence of the global economic crisis in 2008, thwarted
development aspirations of the local economy. Notwithstanding this, the country can expect improvement following a period of two or three years necessary for a return to pre-crisis levels.

If conditions are fulfilled that are necessary for utilizing the improved global recovery, the Slovak economy may converge with its GDP per capita to the tune of 75-80 % compared to the EU15 countries

and to almost 90 % of the EU27 by 2020. The employment rate in Slovakia could near the levels of the EU15 and wages could reach 57 % of salaries in this group in the same time period.

All this implies strong growth for Bratislava in the next 10 years..

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