World Library  
Flag as Inappropriate
Email this Article

Tatra Tiger

Article Id: WHEBN0003608104
Reproduction Date:

Title: Tatra Tiger  
Author: World Heritage Encyclopedia
Language: English
Subject: Economy of Slovakia, Slovakia, Tatra, Gulf Tiger, Economic booms
Publisher: World Heritage Encyclopedia

Tatra Tiger

Minister of Finance Ivan Mikloš is widely regarded as the main architect of economic reforms.

"Tatra Tiger" is a nickname that refers to the economy of Slovakia in period 2002 – 2007[1] and after 2010[2] following the ascendance of a right-wing coalition in September 2002 which engaged in a program of liberal economic reforms. The name "Tatra Tiger" derives from the local Tatra mountain range.

In 2004 and 2005, Slovakia had one of the highest gross domestic product growth rates in the European Union after some of the Baltic countries, reaching 6%. In 2006, the year-over-year growth amounted to an unexpected 9.8% in the 3rd quarter, which helped to increase the overall annual economy growth expectation for 2006 from 6%-6.5% to 8.2%. This 9.8% growth (a low estimate) can be partly ascribed to the launch of production at a new Peugeot SA plant. The growth came as a surprise to local analysts, given that another big foreign investor, Kia, launched its production in late 2006. In 4Q of 2007 the growth was 14.3%.

However, public polling shows that despite the resultant high growth rates, the public does not universally approve of the reforms, because they are associated with a drastic loss of the (previously high) government programs (reform of the previously government-run health system, complete reform of the pension system, etc.), the replacement of progressive taxation with a flat tax, rapid changes of laws and other legal regulations, and rising property prices. Moreover, unemployment jumped to very high levels immediately after the reforms began in 1998, although it decreased back to its 1998 level in 2006 and even below later on.

In the first quarter of 2009 the fall of GDP was -5.7% but in the 2010 the GDP growth was a 4.8% for a first quarter.

These days Slovakia GDP still grows faster than the EU average, in period 2005-2011 the Slovakia GDP growth increased about 38,3% which is the highest growth between all EU countries.[3]

High-rise buildings at Mlynské Nivy, one of Bratislava's main business districts.


Annual GDP growth rate

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
Slovakia 1.4% 3.5% 4.6% 4.8% 5.1% 6.7% 8.3% 10.5% 5.8% -4.9% 4.2% 3.3% 2.0% 0.9%
Data from Eurostat (2013 data values are estimates)

GDP per capita

In international dollars, at purchasing power parity (PPP) and Nominal GDP per capita. Numbers in brackets show the respective country's GDP per capita as a percentage of the European Union average (also measured at PPP).
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
Slovakia (PPP) 11,237
Data from International Monetary Fund
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
Slovakia (Nominal) 3,791
Data from International Monetary Fund

See also


  1. ^ Jens Jungmann,Bernd Sagemann. 2011. p. 525. [1]
  2. ^ The economist. Oct 12th 2011, 15:45 by K.M. [2]
  3. ^ 11 March 2011. Retrieved 26 April 2011 [3]
  • "A new Direction for Slovak politics?" (preview), Foreign Report, Jane's Intelligence, December 12, 2005
  • Post Report: Slovak Republic, U.S. Department of State, 12 May 2005
  • "Slovakia's awakening: 'Tatra Tiger' is born", by Matthew Reynolds, New York Times, December 29, 2004
  • Once a Backwater, Slovakia Surges, by Matthew Reynolds, New York Times, December 28, 2004
This article was sourced from Creative Commons Attribution-ShareAlike License; additional terms may apply. World Heritage Encyclopedia content is assembled from numerous content providers, Open Access Publishing, and in compliance with The Fair Access to Science and Technology Research Act (FASTR), Wikimedia Foundation, Inc., Public Library of Science, The Encyclopedia of Life, Open Book Publishers (OBP), PubMed, U.S. National Library of Medicine, National Center for Biotechnology Information, U.S. National Library of Medicine, National Institutes of Health (NIH), U.S. Department of Health & Human Services, and, which sources content from all federal, state, local, tribal, and territorial government publication portals (.gov, .mil, .edu). Funding for and content contributors is made possible from the U.S. Congress, E-Government Act of 2002.
Crowd sourced content that is contributed to World Heritage Encyclopedia is peer reviewed and edited by our editorial staff to ensure quality scholarly research articles.
By using this site, you agree to the Terms of Use and Privacy Policy. World Heritage Encyclopedia™ is a registered trademark of the World Public Library Association, a non-profit organization.

Copyright © World Library Foundation. All rights reserved. eBooks from World eBook Library are sponsored by the World Library Foundation,
a 501c(4) Member's Support Non-Profit Organization, and is NOT affiliated with any governmental agency or department.