Slovakia has for several years been drifting away from the European Union's most advanced economies, and its living standard has stopped catching up with them. The National Bank of Slovakia drew attention to this trend in its Structural Challenges analysis, which assesses the causes of the country's slower growth as well as its further prospects. ekonomika.pravda.sk ↗
According to NBS chief economist Michal Horváth, Slovakia's future prosperity will depend mainly on people's skills and talent. He says the country needs to ensure that workers in the economy are in the right positions and have abilities matching changing demands. teraz.sk ↗
The analysis also suggests that Slovakia's growth model to date has stopped working. The economy previously relied on gradually catching up with more advanced countries, but this process has slowed, and no turnaround for the better occurred over the past year. Trend ↗
Technological changes could play a significant role. However, according to the published conclusions, the mere introduction of new technologies will not be sufficient if the Slovak economy does not have enough people with the necessary skills. What will therefore be decisive is linking technological development with education, talent, and the effective use of the workforce.
The NBS is thereby pointing to the need for a broader change in the economic model. The future development of Slovakia's living standard will depend on whether the country manages to improve the use of its human potential and restore its convergence toward the economically more advanced states of the European Union.
NBS: Slovakia is falling behind, skills and talent will decide
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Sources (3)
Slovensko sa prepadáva za vyspelou Európou. NBS odhalila, prečo bohatneme pomalšie a čo nás ešte čaká
ekonomika.pravda.sk
| 14:40 02.11.
NBS: O budúcej prosperite Slovenska rozhodnú najmä zručnosti a talent
teraz.sk
| 12:45 02.11.
Rastový model Slovenska prestal fungovať, krajina potrebuje zmenu
Trend
| 11:45 02.11.
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