Slovakia, which for many years was seen as lagging behind the other European countries, is currently considered to be a model of successful economic transformation. On 1 January 2009, Slovakia was the first Central European state to join the Eurozone, and is currently the fastest developing country in the European Union. These achievements have been possible thanks to a consistent economic policy, and in particular the implementation of liberal economic reforms, investor-friendly legislation and effective measures towards adopting the euro.
Nevertheless, the current global economic crisis is putting Bratislava's success to the test. Due to the specific characteristics of the Slovak economy, namely its reliance on exports and the dominant position of the automotive industry in production, as well as the recent gas crisis, economic growth is losing momentum. It seems, however, that with the country's accession to the Eurozone and the government recovery plan announced on 27 January, the Slovak economy will manage the crisis better than any other of the Visegrad Group members. Wyszehradzkiej.
