Page "Economy of Slovakia" Paragraph 2
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Two governments of the " liberal-conservative " Prime Minister Mikuláš Dzurinda ( 1998 – 2006 ) pursued policies of macroeconomic stabilization and market-oriented structural reforms.
In 2001 policies of macroeconomic stabilization and structural reform led to spiraling unemployment.
Unemployment peaked at 19. 2 % ( Eurostat regional indicators ) in 2001 and though it has fallen to ( depending on the methodology ) 9. 8 %(( cn )) or 13. 5 % as of September 2006, it remains a problem.
Strong export growth, in turn, pushed economic growth to a still-strong 4. 2 % in 2003 and 5. 4 % in 2004, despite a downturn in household consumption.
Headline consumer price inflation dropped from 26 % in 1993 to an average rate of 7. 5 % in 2004, though this was boosted by hikes in subsidized utilities prices ahead of Slovakia ’ s accession to the European Union.
In July 2005, the inflation rate dropped to 2. 0 % and is projected at less than 3 % in 2005 and 2. 5 % in 2006.
In 2006, Slovakia reached the highest economic growth ( 8. 9 %) among the members of OECD and the third highest in the EU ( just behind Estonia and Latvia ).
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