The underlying strong macroeconomic performance has led to a gradual appreciation of the  BIS Review 114/2008  1  nominal exchange rate against the euro, without impairing the competitiveness of Slovak exporters. Reflecting strong macroeconomic fundamentals, the central parity of the Slovak koruna against the euro was revalued by 8.5% and 17.65% in March 2007 and May 2008, respectively.
Economic progress in Slovakia has been based on a series of structural reforms. The substantial reforms of taxes and social benefits together with a greater flexibility in product and labour markets have brought Slovakia to the attention of foreign investors. The ensuing inflow of foreign direct investment has boosted the economy and promoted rapid real GDP growth.