Slovakia’s economy can be defined as one of a developed country since it has the highest sustained GDP growth in the European Union. In 2007 the GDP growth was of 10.4% but has lately fallen considerably to 4.7 in 2009 as an effect to the economic crisis. The secret of this economy’s success is that it is small and open. If we look back at the economic history of the Slovak government we can see that there are two main approaches, which usually give results. The first one it is more probable to be known as populist and most of the time it is associated with a strong opposition towards investors, high levels of corruption, mismanagement and incompetence. This usually have a long-term impact on the economy of a country. The outcome could be national debt, huge inefficiency and an overall stagnation of the economy. These kind governments were in power in 1994 – 1998 and 2006- 2010. The second one, is a type of government rule associated with neo-classical free market reforms, such as having an open economy and being friendly to foreign investors, flat tax, privatization and improve business environment. This kind of politicians is usually inclined towards transforming a communist economy into a free market economy. The best Soviet economic period was between 1990- 1992 and 1998-2006 because there was falling of inflation and unemployment, acceleration of economic growth and an improvement in public finances.
