Executive summary

The changes in the Slovak Republic’s socio-economic and governance landscape over the past 20 years are impressive. The Slovak Republic joined the European Union (EU) in 2004, entered the Schengen area in 2007 and adopted the euro in 2009. These events, coupled with decentralisation reform and the creation of administrative regions, have brought significant changes to the country as a whole. Between 2004 and 2008, GDP grew at an average annual rate of approximately 7%, dropping off in the face of the global financial crisis but rebounding to 2.5% in 2010- 13. Gross domestic product per capita at purchasing power parity has increased from 57% of the EU-28 average in 2004 to 75% in 2013.