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SLOVAKIA Tenders




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Capital Bratislava
ISO 3166 Code SK
Population 5,421,034
Area, Sq KM 48,845
Currency Euro
Official Language Slovak
GDP, Billion USD 97,707
GDP Growth Rate, % 2.4
Inflation, Avg CP, % Chng N/A
Interest Rates, % N/A
Unemployement Rate, % 13.86
Exchange Rate, 1 USD Equals .88
International dial code 421
Time Zone GMT+01:00
Internet TLD .sk

Slovakia is officially known as the Slovak Republic. This Central European country is bordered by the Austria and Czech Republic to the west, Ukraine to the east, Poland to the north and Hungary to the south. Slovakias territory covers about 49,000 square kilometers. The territory of the country is mostly mountainous. The population of Slovakia is more than 5 million and consists mostly of ethnic Slovaks. Bratislava is the largest as well as the capital of the country and the official language is Slovak. The Slavs were believed to have arrived in the territory of the country somewhat around 5th and 6th centuries. In the 7th century, the Slavs played a very essential role in creating Samos Empire. In the 10th century, the territory was merged into the Kingdom of Hungary and after World War I the Slovaks as well as the Czechs established Czechoslovakia. A separate Slovak Republic From the years 1939–1945, a separate Slovak Republic existed in World War II. Slovakia got its independence on 1 January in the year 1993. Slovakia is known to be a high-income as well as advanced economy. It has also one of the fastest growth rates in the OECD as well as the European Union. In the year 2004, Slovakia joined European Union and in 2009, Eurozone. The country is also a member of the NATO, the United Nations, Schengen Area, WTO and the OECD. The Slovak economy has GDP per capita that equals to 76% of the average of the European Union as of 2014. The country has a centrally planned economy from which it shifted to market-driven economy. Major privatizations are almost complete including the banking sector which is in private hands completely and since then foreign investment has also risen. However, Slovakia experienced financial crisis during 2007-08 before which the country has sustained quite high economic growth. It was the fastest growing economy with GDP growth of 10.5% in 2007 but deteriorated to 6% and 4% retrospectively in the following years yet managed to become the fastest growing economy in the European Union and in 2011-12, became the second fastest growing Eurozone member. Slovakia as of 2015 still remains one of the highest in terms of economic growth in the Eurozone. By the end of the year 2013, the ration of government debt to GDP in the country reached around 58%. The rate of unemployment decreased to 7.5% in October 2008 from 19 percent in 1999.

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