The ILO and Slovakia

  • © Eduard Genserek/AFP/Europress

    About the ILO in Slovakia

    Rapid progress with improved employment outcomes faces recent slow down


    After the dissolution of Czechoslovakia into its two constituent parts in 1993, the Slovak Republic witnessed considerable catch-up growth relative to EU average. GDP per capita more than doubled and reached 69 per cent of the EU average in 2021. Growth has been driven by a strong inflow of foreign direct investment facilitated by relatively low wages, skilled labour, and the proximity to Western Europe. The rapid transformation led to EU membership in 2004 and the classification as a high-income country in 2007. With EU funds, Slovakia is supporting the country’s green and digital transitions. Improved labour market outcomes have led to substantial reductions of at-risk-of-poverty and social exclusion rates, where Slovakia performs better than the EU average (15.6 per cent as compared with EU27 21.7 per cent).   Continue reading