OECD Economic Surveys: Slovak Republic 2012
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OECD's 2012 Economic Survey of the Slovak Republic examines recent economic developments, policies and prospect and takes a special look at improving the fiscal framework and investing efficiently in education and active labour market policies.
Also available in: French
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Improving the fiscal framework to enhance growth in an era of fiscal consolidation
The challenge for fiscal policy is to achieve fiscal consolidation in a way which supports the fragile recovery and protects spending on areas which are important for re-embarking on a trajectory of high trend growth and underpinning a catch-up in living standards. While the recently established fiscal rules have significantly improved the fiscal framework, a further strengthening in medium-term fiscal discipline will be necessary to avoid pro-cyclical fiscal policy. Raising the effectiveness of tax collection, reforming the tax structure towards less distortive taxes and making more out of available EU funds would also play a helpful role in a growth-friendly fiscal consolidation. Finally, more needs to be done to ensure an adequate prioritisation of spending and an efficient use of public revenues. In particular, stepping up the analytical monitoring, evaluation and assessment capacity in spending ministries should help to rein in wasteful spending.
Also available in: French
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Click to download PDF - 264.96KBPDF