|
|
|
 |
|
SLOVAKIA
Year of EU entry 2004
Political system Republic
Capital city Bratislava
Total area 49,000 km2
Population 5.4 million
Currency Slovak koruna |
|
Overview
Slovakia became an independent state in January 1993 after Czechoslovakia split into its two constituent parts.
Slovakia is in the heart of central Europe, linked to its neighbours by the River Danube. The most famous natural resort is the High Tatra mountains - popular for its spectacular views and skiing facilities. The lowlands of the Danube plain provide a fertile farming region producing wheat, barley, potatoes, sugar beet, fruit, tobacco and grapes.
The President, elected by direct popular vote for a five-year term, has limited powers. The country has a single-chamber parliament whose 150 members are elected for four-year terms.
Ethnically, the population is 86% Slovak; Hungarians are the largest minority.
Perched on many hilltops are fortifications that bear witness to Slovakia's long history of invasions. Bratislava, the coronation place for the kings of Hungary in the past, has a rich heritage of mediaeval and baroque architecture.
Traditional meals are potato dumplings with sheep's milk cheese and cabbage soup with sausage.
Among the best-known Slovaks are Štefan Banič who invented the parachute in 1913, the founder of pop art Andy Warhol, born as Andrej Varhola of parents originating in Eastern Slovakia, and the Slovenská Filharmónia orchestra founded in 1949.
Economy
Slovakia has mastered much of the difficult transition from a centrally planned economy to a modern market economy. The Dzurinda government made excellent progress during 2001-04 in macroeconomic stabilisation and structural reform. Major privatisations are nearly complete, the banking sector is almost completely in foreign hands, and the government has helped facilitate a foreign investment boom with business-friendly policies, such as labour market liberalisation and a 19% flat tax.
Foreign investment in the automotive sector has been strong. Slovakia's economic growth exceeded expectations in 2001-05, despite the general European slowdown. Unemployment, at an unacceptable 15% in 2003-04, dropped to 11.4% in 2005, but remains the economy's Achilles heel.
|
|
