The Slovak economy should grow 3.3 % this year and its growth rate should accelerate next year to 4.1%, according to a report that the Organization for Economic Cooperation and Development (OECD) released in Bratislava on Wednesday. According to the OECD's secretary general, José Ángel Gurría, Slovakia should take advantage of this profitable situation.
"You have been working on it, you have earned it, and now the question is how you take advantage of it. Because you could say this is the goal. And I would say, no, it is the starting block."
With a profiting economy, Slovakia will have to address issues such as education, healthcare as well as the ageing of the population. When speaking about education, Gurría notes that Slovakia should not concentrate only on skills, but also on the development of universities and research, as the country is too focused on manufacturing positions. However, it is the automotive industry which accounted for 27% of Slovak exports in 2015. The output in 2018, which should reach 1.4 million vehicles, will result in the current account of the balance of payments reaching positive territory, states the OECD report.
Slovakia cooperates with the OECD also on fighting corruption as the OECD carried out an audit of the country's legislation on this issue as well as providing specific recommendations. In Slovakia, the OECD has particularly looked into the specific issue of whistleblowers and how to protect people who are saying there is something wrong.
"It's a long process. It's a system that needs everybody involved. It's a culture change," stated Gurría in an exclusive interview with Radio and Television Slovakia.
