Diplomatic representation in the US:
chief of mission: Ambassador-designate Martin BUTORA
chancery: (temporary) Suite 250, 2201 Wisconsin Avenue NW,
Washington, DC 20007
Diplomatic representation from the US:
chief of mission: Ambassador Ralph R. JOHNSON
embassy: Hviezdoslavovo Namestie 4, 81102 Bratislava
mailing address: use embassy street address
Flag description: three equal horizontal bands of white (top),
blue, and red superimposed with the Slovak cross in a shield
centered on the hoist side; the cross is white centered on a
background of red and blue
Economy
Economy—overview: Slovakia, continuing the difficult transition from a centrally controlled economy to a modern market-oriented economy, begins 1999 with clouds on the horizon: GDP growth is slowing sharply; budget and current account deficits are too large; external debt is growing uncomfortably fast; unemployment is high and rising; corrupt insider deals persist; and demand is weakening for Slovakia's key primary goods exports, especially as Russia and Ukraine slump and as EU growth slows. International credit rating agencies have downgraded Slovak debt to below investment grade. The new government intends to address the economy's ills by giving priority to joining the OECD and EU, cutting government wage and infrastructure spending, boosting some taxes and regulated prices, expanding privatization to companies formerly considered strategic, restructuring the financial section, encouraging foreign investment, and reenergizing the social partnership with labor and employers. Government officials believe as long as two years may be needed before its structural reforms improve economic performance. In 1999, the government expects GDP growth to slow from 5% in 1998 to 2%, inflation to rise from 6% to 10%, and unemployment to rise from less than 14% to 15% or 16%, but hopes to bring the budget deficit down to no more than 2% of GDP and the current account deficit down to 5% to 6% of GDP.
GDP: purchasing power parity—$44.5 billion (1998 est.)
GDP—real growth rate: 5% (1998 est.)
GDP—per capita: purchasing power parity?$8,300 (1998 est.)
GDP—composition by sector: agriculture: 4.8% industry: 33.4% services: 61.8% (1997)
Population below poverty line: NA%