Slovakia is currently struggling with its competitiveness, which is directly affecting the performance of its economy. According to a recent report, the nation is now compared to Turkey in terms of economic growth and competitiveness, indicating a concerning trend. Slovakia has been unable to attract a significant number of skilled workers and is not generating enough innovation or high-value-added jobs that could help boost its economy.

In 2024, the GDP per capita in purchasing power parity in Slovakia is projected to exceed $46,000. However, despite this positive indicator, the latest Global Competitiveness Index reveals that Slovakia scored only 42.8 points. This places Slovakia among countries such as Turkey and Bulgaria, which highlights a pressing need for strategic initiatives to improve the country’s standing in international competitiveness rankings.

If Slovakia continues along this path, its economic performance will likely suffer further, potentially leading to a stagnation of growth and a failure to capitalize on global economic opportunities. The pressing issues include a shortage of high-skill jobs, low innovation outputs, and a failure to attract talent, all of which warrant urgent consideration by policymakers to ensure long-term economic growth and stability.