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Transcript of Slovakia
(tax, pension and healthcare reforms, more flexible labour legislation, broad privatization).
Flat 19% tax rate (for both personal and corporate income tax) substantially reduced the tax burden in Slovakia, which were among the lowest in the region.
Slovakia offered the most favourable conditions for economic activity among all of its neighbours.
The stimulus for substantial growth in foreign investments came from the very favourable conditions. The tax cuts and reliefs were much deeper than in the neighbouring countries (including Poland and the Czech Republic).
Slovakia became the country of choice for large global concerns, especially from the automotive sector, to invest and build new factories. 1918 - 1939
1945 - 1948 SLOVAK REPUBLIC SLOVAK REPUBLIC HISTORY GENERAL INFORMATION 863 AD 833 AD 623 AD SAMO'S EMPIRE
One of the earliest Slav states established by the Frankish merchant with origin from modern Belgium or France. He was the first ruler of the Slavs. Samo united Slavic tribes and helped them against robber raids and violence by near settled Avars. GREAT MORAVIA
Slavic state that existed in Central Europe whose founders were the ancestors of the Czechs and Slovaks. Great Moravia was founded in 833 by Mojmir I. Core area lay on the territory of today's western Slovakia and today's Czech republic. In 863AD, upon initiative of Mojmir's I successor Rastislav, Cyril and Methodius were sent by Byzantine Emperor Michael III, who evangelised Slavs. 880 AD In 880AD, Pope John VIII issued the bull Industriea Tuae, by which he set up an independent ecclesiastical province in Great Moravia with Archbishop Methodius as its head Great Moravia Kingdom of Hungary
Austro -Hungarian Empire Mining Kremnica, Banska Stiavnica and Spis region were the major mining towns in Kingdom of Hungary during middle ages.
Annual gold production in the 14th century is estimated to be 2000 to 2500 kg. Silver production is estimated at 10 000 kg per year, which represents about 25% of the pan-European production. Education The Universitas Istropolitana, founded in 1465 by Pope Paul II, was the first university to be founded in the territory of present-day Slovakia. Czechoslovakia Constitution The Golden Bull of 1222 was issued by King Andrew II of Hungary. The Golden Bull was the first constitutional document of the Kingdom of Hungary and the second constitutional document in the world. Czechoslovakia was a sovereign state in Central Europe which existed from October 1918 after declaring its independence from the Autro-Hungarian Empire, until 1992.
In 1930s, Czechoslovakia was one of the world's 10 most industrialized states and country with one of the highest standard of living 1948 - 1989 1989 - 1992
In 1978, Czechoslovakia sent first Czechoslovak into space. He was the first cosmonaut from a country other than the Soviet Union or the United States.
In 1980s , industry was source of high-quality machinery and arms for other communist countries.
In 1988, Czechoslovakia was the 5th leading arms exporter worldwide Industry Famous People with Slovak Decent Official name Slovak Republic
Area 49,035 km2
Population 5.4 million
Regions Bratislava, Trnava,Trencin,Nitra,Zilina, Banska
Bystrica, Presov, Kosice
Member of EU,Euro Area,Schengen Area,OECD,WTO,NATO,..
Currency Euro, (since January 1,2009)
Time zone GMT + 1 hour
Type of government Parliamentary system
Official language Slovak
Electoral system Proportional representation
Proportional representation 4 years (Parliament), 5 years (President) Macroeconomics overview Real GDP growth (%) Name of the region/average wage/unemployment/regional GDP*(€)
1. Bratislava 1001€ 5,5% 17621 mil
2. Trnava 735 € 8,6% 7246 mil
3. Trencin 687 € 7,0% 6154 mil
4. Nitra 662 € 11,9% 7009 mil
5. Zilina 707 € 13,2% 6995 mil
6. Banska Bystrica 652 € 15,8% 5505 mil
7. Presov 608 € 18,5% 5359 mil
8. Kosice 726 € 19,5% 7007 mil
Source: Statistical Office of the Slovak Republic, www.statistics.sk, 2011,*2009 TRANSFORMATION 1989 - 1992 1993 - 1998 1998 - 2006 Transformation of central planned economy to the market oriented system in 1989 brought radical change in the sphere of economy as well as in the social sphere.
Czechoslovakia officially split into two countries on 1st of January 1993. There was no war, nor any sort of ethnic conflict preceding the split, the decision largely made by "political elites"
The pro-split politicians argued that the split was necessary because Slovakia, the smaller part of the Czechoslovak Federation, was often neglected economically. Radical changes in transformation process.
Halted democratic and market economy reforms.
From 1994 to 1998, the ruling government created disputes that went beyond the typical battles between government and opposition, which are settled using generally accepted rules. 2006 - In 2006, socialist left-wing government of Robert Fico came to power. The Fico government continued working towards rapid accession to the Eurozone. He made only minor corrections to the economic policy, such as abolishing the symbolic healthcare charges, increasing minimum wages and taxing the highest earners. These changes did not undermine the key principles of economic policy which the preceding cabinet had developed.
Slovakia, which for many years was seen as lagging behind the other European countries, was considered to be a model of successful economic transformation. On 1 January 2009, Slovakia was the first Central European state to join the Eurozone, and is the fastest developing country in the European Union.
Slovakia is among those EU (and Central European) economies which are tackling the crisis most effectively.
Slovakia is Central Europe's second largest car producer, after the Czech Republic. In 2012, more than 900,000 vehicles were produced there. The automotive industry plays a key role in Slovakia's economy.
Comparing labor productivity and wages, the Slovak economy is a leader among the EU countries. THANK YOU