Diplomatic representation in the US: chief of mission: Ambassador Martin BUTORA chancery: 3523 International Court NW, Washington, DC 20008 FAX: [1] (202) 237-6438 telephone: [1] (202) 237-1054
Diplomatic representation from the US: chief of mission: Ambassador Ronald WEISER embassy: Hviezdoslavovo Namestie 4, 81102 Bratislava mailing address: P.O. Box 309, 814 99 Bratislava telephone: [421] (2) 5443-3338 FAX: [421] (2) 5443-0096
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 Slovakia
Economy - overview: Slovakia has mastered much of the difficult transition from a centrally planned economy to a modern market economy. The DZURINDA government made excellent progress in 2001 in macroeconomic stabilization and structural reform. Major privatizations are nearly complete, the banking sector is almost completely in foreign hands, and foreign investment has picked up. Slovakia's economy exceeded expectations in 2001, despite recession in key export markets. Revival of domestic demand, partly due to a rise in real wages, offset slowing export growth to help drive the economy to its strongest expansion since 1998. Solid domestic demand is expected to boost economic growth to 3.4% in 2002, and about 4% in 2003. Unemployment, rising to 19.8% at the end of 2001, remained the economy's Achilles' heel. The government faces other strong challenges in 2002, especially the maintenance of fiscal balance ahead of the September 2002 parliamentary election, cutting budget and current account deficits, and privatization of the Slovak energy and power monopolies.
GDP: purchasing power parity - $62 billion (2001 est.)
GDP - real growth rate: 3% (2001 est.)
GDP - per capita: purchasing power parity - $11,500 (2001 est.)
GDP - composition by sector: agriculture: 4% industry: 32% services: 64% (2000 est.)
Population below poverty line: NA%