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IMF Country Report No. 25/73
SLOVAK REPUBLIC
SELECTED ISSUES
March 2025
This paper on the Slovak Republic was prepared by a staff team of the International Monetary Fund as background documentation for the periodic consultation with the member country. It is based on the information available at the time it was completed on March 3, 2025.
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© 2025 International Monetary Fund
Title page
SLOVAK REPUBLIC
SELECTED ISSUES
March 3, 2025
Approved By
European Department
Prepared By Yen Mooi, Shinya Kotera (all EUR), and Christian Bogmans (RES).
Contents
CONSUMPTION ANALYSIS BASED ON DISTRIBUTIONAL NATIONAL ACCOUNTS
A. Introduction
B. Demographic Analysis Using DNA
C. Inequality Analysis using DNA
D. Conclusions and Policy Considerations
FIGURES
1. Consumption, Income, and Wealth Growth
2. Household Share and Consumption Level (by Household Type and Age)
3. Number of Households and Household Size
4. Decomposition Analysis
5. Drivers of Real Consumption per Person
6. Consumption and Income Growth by Income Quintile
7. Household Share and Income Level (by Labor Status)
8. Gender Gap
APPENDIX
I. Methodology of Estimating the Distributional National Accounts
References
A MICRO-MESO-MACRO VIEW OF LABOR PRODUCTIVITY GROWTH IN THE SLOVAK REPUBLIC
A. A Macro Perspective
B. A Meso Perspective
C. A Micro Perspective
D. Policy Recommendation
FIGURES
1. Income per Capita and Convergence to Western Europe, 1993-2023
2. Labor Productivity Growth by Country, 1997-2024
3. Labor Hoarding and Aggregate Labor Productivity Growth in Slovakia
4. Decomposition of Labor Productivity Growth
5. Sectoral Labor Productivity is Catching-up to The EU Frontier Albeit Unevenly
6. Labor Productivity Growth by Sector Aggregates, 2001-2020 and 2015-2019
7. Productivity Growth Decomposition
8. Firm Entry and Exit in The Slovakian Economy, 2019
9. Birthrate of Gazelles in Slovakia and Their Performance Relative to Peers
10. Labor Productivity Growth in Manufacturing and Services by Firm Type
11. Labor Productivity at Selected Car Manufacturing Plants, and Car Parent Companies or Subsidiaries in Europe
APPENDIX
I. Data
References
AI EXPOSURE AND PREPAREDNESS IN SLOVAKIA’S LABOR MARKET
A. Introduction
B. Conceptual Framework
C. Labor Market Implications for Slovakia
D. AI Preparedness and Digital Skills
E. Conclusions and Policy Considerations
FIGURES
1. AI Exposure and Complementarity
2. Use of Skills at Work
3. Employment Shares by AI Exposure and Complementarity: Country Groups and Selected European Countries
4. AI Exposure and Complementarity by Sector and Gender
5. AI Exposure and Complementarity by Age and Education
6. AI Preparedness
7. Digital Skills and ICT/AI usage
BOX
1. Adjusting for Skill Differences Between Slovakia and The US
References