The Czech Republic could reach the EU average within a decade. Slovakia may not get there for another 50 years.
Closing the gap with the European Union average is only possible through economic growth, and over the long term, that growth is driven primarily by two factors: productivity and demographics.
Where Slovakia's demographics and productivity are heading suggests that, after 2035, economic growth below 1.5 percent will become the norm rather than the shock it is today, says Zuzana Múčka, Head of the Macroeconomic Analysis and Forecasting Department at the Council for Budget Responsibility (RRZ).
"Productivity does not increase on its own. It is the result of investment in education, technology, innovation, and higher value-added activities," she says.
You have calculated that Slovakia's GDP will not reach the EU average for at least the next 50 years. Compared with last year, the pace of convergence has slowed even further. What is this projection based on?
