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Slovakia: A story of reforms

Slovakia: A story of reforms. Ivan Mikloš. Structural challenges. Fiscal sustainability Corruption and justice reform Job creation Business environment Education and innovative society Accessible and effective health-care. Public sector reforms. Public finance reform Tax reform

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Slovakia: A story of reforms

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  1. Slovakia: A story of reforms Ivan Mikloš

  2. Structural challenges • Fiscal sustainability • Corruption and justice reform • Job creation • Business environment • Education and innovative society • Accessible and effective health-care

  3. Public sector reforms • Public finance reform • Tax reform • Pension reform • Social benefit reform • Labor market reform • Healthcare reform • Fiscal decentralization • Regional education reform (partially)

  4. Foreign currency rating (S&P) A+ A A- BBB+ BBB BBB- BB+

  5. International integration Slovakia – NATO, EU, OECD, € Czech Republic – NATO, EU, OECD Poland – NATO, EU, OECD Hungary – NATO, EU, OECD Slovenia – NATO, EU, €, OECD Latvia – NATO, EU Lithuania – NATO, EU Estonia – NATO, EU, OECD, € Romania – NATO, EU Bulgaria – NATO, EU Croatia – NATO Albania – NATO

  6. Real GDP growth

  7. Inflation (annual average)

  8. Openness to trade (EX+IM on GDP)

  9. Current account balance (% of GDP)

  10. FDI inflow (% of GDP)

  11. Gross fixed capital formation (% of GDP)

  12. Share of private sector(2009, % of GVA)

  13. Share of private sector(% of GVA)

  14. Unemployment rate

  15. GG expenditures – international comparison (% of GDP) Source: Eurostat

  16. GG expenditures – development in Slovakia (% of GDP) Source: Eurostat

  17. Total tax burden* - internationalcomparison Source: Eurostat * share of all taxes and social contributions of GDP

  18. Tax burden* – development in SR Source: Eurostat * share of all taxes and social contributions of GDP

  19. Public deficit (% of GDP) Source: Eurostat

  20. Public debt (% of GDP) Source: Eurostat

  21. At risk of poverty

  22. Comparison of old and new tax system Source: Ministry of Finance of the Slovak Republic

  23. Comparison of principal parameters of income tax and social security contributions system Note: * small entrepreneur with employees insured in different healthcare insurance companies Source: Ministry of Finance of the Slovak Republic

  24. Effective taxation of individuals´ income 35 30 2003 2004 25 20 15 10 5 0 4,8 3,8 4,4 2,6 2,9 3,2 3,5 5,4 2,3 4,1 5,1 6,0 0,4 0,7 1,0 5,7 1,6 1,9 1,3 Multiples of average income Source: Ministry of Finance of the Slovak Republic, own calculations

  25. Income tax of individuals and dividend tax in EU countries as of 2005 Source: Ministry of Finance of the Slovak Republic

  26. CIT rate and revenues in selected EU countries as of 2006 Source: Eurostat, own calculations

  27. CIT rate and revenues in Slovakia in 2003 – 2008 Source: Ministry of Finance of the Slovak Republic, own calculations

  28. Source: Ministry of Finance of the Slovak Republic

  29. Source: Ministry of Finance of the Slovak Republic

  30. Source: Ministry of Finance of the Slovak Republic

  31. Source: Ministry of Finance of the Slovak Republic

  32. Position in WEF GCR 2010-2011

  33. Position in WEF GCR 2010-2011

  34. Position in WEF GCR 2010-2011

  35. Position in WEF GCR 2010-2011

  36. Position in WEF GCR 2010-2011

  37. Position in WEF GCR 2010-2011

  38. Position in WEF GCR 2010-2011

  39. Position in WEF GCR 2010-2011

  40. Index of economic freedom (Heritage fondations)

  41. Index of Economic Freedom Scores, Slovakia

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