IMF Country Report No. 19/330 SLOVAK REPUBLIC TECHNICAL ASSITANCE REPORT—PUBLIC October 2019 INVESTMENT MANAGEMENT ASSESSMENT This Technical Assistance Paper on the Slovak Republic was prepared by a staff team of the International Monetary Fund. It is based on the information available at the time it was completed in February 2019. Copies of this report are available to the public from International Monetary Fund • Publication Services PO Box 92780 • Washington, D.C. 20090 Telephone: (202) 623-7430 • Fax: (202) 623-7201 E-mail:
[email protected] Web: http://www.imf.org Price: $18.00 per printed copy International Monetary Fund Washington, D.C. © 2019 International Monetary Fund FISCAL AFFAIRS DEPARTMENT Slovak Republic Public Investment Management Assessment Yasemin Hürcan, Richard Allen, Imran Aziz, Willie du Preez, Karel Meixner Technical Report September 2019 CONTENTS ABBREVIATIONS AND ACRONYNMS ___________________________________________________________ 5 PREFACE __________________________________________________________________________________________ 6 EXECUTIVE SUMMARY ___________________________________________________________________________ 7 I. PUBLIC INVESTMENT IN SLOVAKIA _________________________________________________________ 11 A. Trends in Total Public Investment and Capital Stock __________________________________________ 11 B. Composition and Financing of Public Investment _____________________________________________ 13 II. EFFICIENCY AND IMPACT OF PUBLIC INVESTMENT _______________________________________ 18 III.