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OECD: With Small and Fragile Economy, Slovakia Needs to Be Careful
Thursday 25 November 2010 Zoom in | Print page
Bratislava, November 25 (TASR) - Slovakia should be careful, because its economy is small and fragile, Organisation for the Economic Co-Operation and Development (OECD) General Secretary Angel Gurria said during his meeting with Slovak President Ivan Gasparovic in Bratislava on Thursday.
"Markets are very unstable and fragile; the risk of infection is imminent," said Gurria, adding that an 8-percent deficit in public finances planned for this year is not tenable long-term.
Gurria claimed that flexibility of labour force in Slovakia is still problematic, adversely affecting unemployment in individual regions. "Of course, there are also positive trends, for instance, in the so-called green economy growth," he said. The General Secretary also appreciated the legislative proposals designed to curb corruption in the country.
President Gasparovic said that Slovak economy went off to a good start in 2004 but was later significantly hampered by the global crisis. "We still haven't managed to cut the unemployment rate," said Gasparovic. He added that he views OECD as a mentor who gives advice on how to get out of the situation that the EU currently finds itself in.
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