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...planned a modern market economy.
The Economic Terrain
In 2001-2003, the government made progress in macroeconomic stabilization and structural reform. Major privatizations are nearly complete, and foreign investment has picked up. Slovakia's economic growth has exceeded expectations in recent years, despite the general European slowdown. In 2002, Slovakia's GDP (gross domestic product) is estimated to have reached $67.34 billion, up 4.4 percent from the previous year. Per capita GDP in 2002 was $12,400.
Unemployment, at a relatively high 15 percent, remains the economy's Achilles' heel. The government Faces other major challenges also, such as cutting the budget and current account deficits and curbing inflation.
Roughly 500,000 Slovaks, or l0...
NOTE: All illustrations and photos
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