Privatization in Slovakia
Privatization in Slovakia happened mainly in the 1990s, after the Velvet Revolution in 1989 and after Slovakia became independent in 1993. While the Czech Republic attracted Western investors, Slovakia under Prime Minister Vladimír Mečiar had a tougher transition.
A first wave of voucher privatization began in November 1991 across Czechoslovakia, letting citizens buy shares of state-owned companies. On January 6, 1993, Mečiar announced that Slovakia would stop voucher privatization and pursue other privatization methods.
The first Slovak Minister of Privatization was Ľubomír Dolgoš, seen as an independent economist. Privatization slowed, with accusations that some ministries wanted to give state companies to certain people. Dolgoš resigned in June 1993 after conflicts with Mečiar.
President Michal Kováč refused to name Ivan Lexa as minister, so Mečiar took over the role and named Lexa deputy minister. On August 5, 1996, Štefan Gavorník of the FNM said the agency was preparing to privatize firms, including banks, despite Mečiar’s pledge to halt privatization.
This page was last edited on 2 February 2026, at 16:23 (CET).