Slovak Economist Warns Country's Economic Model Has Lost Its Edge

Slovakia's economy has stagnated as the country remains dependent on cheap labor and foreign investment rather than transitioning to a knowledge-based economy, according to economist Vladimír Baláž from the Slovak Academy of Sciences' Institute for Forecasting. The researcher warned that Slovakia's former reputation as the "Tatra Tiger" - a reference to rapid economic growth in previous decades - has diminished to that of a "limping cat." Baláž argued that simple solutions like tax cuts are insufficient to revive growth, emphasizing instead the need to strengthen science, research, technology and innovation. He also addressed housing affordability issues, suggesting that increased construction activity could help resolve the problem of expensive housing, particularly in Bratislava.