History of the euro
Slovakia fulfilled the euro convergence criteria. At 2.2%, Slovakia's twelve-month inflation was well below the 3.2% threshold. However, for March 2008 annual inflation was 3.6%. Fiscal deficit was 2.2% versus the reference value of 3.0%. And finally, the government debt ratio was 29.4% of GDP in 2007, well below the maximum ratio of 60.0%. Public opinion supported the switch, with 58% in favour and 35% opposed, but 65% worried about the inflationary impacts of the adoption. Three months after the adoption of the currency 83 percent of Slovaks consider Slovakia's decision to adopt the euro to have been right.
Slovakia
In 2017, Slovakia was ranked by the International Monetary Fund as the 39th richest country in the world (out of 187 countries), with purchasing power parity per capita GDP of $32,895. The country used to be dubbed the "Tatra Tiger". Slovakia successfully transformed from a centrally planned economy to a market-driven economy. Major privatisations are completed, the banking sector is almost completely in private hands, and foreign investment has risen.
The Slovak economy is one of the fastest growing economies in Europe and 3rd fastest in eurozone (2017). In 2007, 2008 and 2010 (with GDP growth of 10.5%, 6% and 4% retrospectively). In 2016, more than 86% of Slovak exports went to European Union, and more than 50% of Slovak imports came from other European Union member states.