of economics and unemployment rate, the western regions are richer than eastern regions. Bratislava is the third-richest region of the European Union by GDP (PPP) per capita (after Hamburg and Luxembourg City); GDP at purchasing power parity is about three times higher than in other Slovak regions. Economy The Slovak economy is a developed, high-income economy, with the GDP per capita equalling 78% of the average of the European Union in 2018. The country has difficulties addressing regional imbalances in wealth and employment. GDP per capita ranges from 188% of EU average in Bratislava to 54% in Eastern Slovakia. Although regional income inequality is high, 90% of citizens own their homes. The OECD in 2017 reported: The Slovak Republic continues exhibiting robust economic performance, with strong growth backed by a sound financial sector, low public debt and high international competitiveness drawing on large inward investment. In 2021, Slovakia was ranked by the International Monetary Fund as the 45th richest country in the world (out of 226 countries and territories), with purchasing power parity per capita GDP of $34,815. 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. As of 2021, with population only 5 million, Slovakia is the 61st largest economy in the world (out of 216 countries and territories). 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 the European Union, and more than 50% of Slovak imports came from other European Union member states. The ratio of government debt to GDP in Slovakia reached 49.4% by the end of 2018, far below the OECD average. Unemployment, peaking at 19% at the end of 1999, decreased to 4.9% in 2019, lowest recorded rate in Slovak history. Slovakia adopted the Euro currency on 1 January 2009 as the 16th member of the Eurozone. The euro in Slovakia was approved by the European commission on 7 May 2008. The Slovak koruna was revalued on 28 May 2008 to 30.126 for 1 euro, which was also the exchange rate for the euro. The Slovak government encourages foreign investment since it is