If border checks are resumed, Slovakia could lose between €1.5-7 billion in the next 10 years.
Border closures are often mentioned in connection with the migration crisis, but the end of the Schengen area would be expensive, the Sme daily wrote on March 24.
Freedom and Solidarity Party (SaS) leader Richard Sulík stated immediately after the bomb attacks in Brussels on March 22 that Europe must close its borders.
A number of countries have been carrying out enhanced checks on their state borders for some time. However, the introduction of more permanent border controls or the scrapping of the Schengen zone altogether would have a negative impact on the economies of individual member states and the European Union as a whole, Sme wrote.
If border checks are resumed, Slovakia could lose between €1.5-7 billion in 10 years, as its economy would slow down. In the best case scenario the deceleration would be 0.03 percentage points annually, while in the worst case it would reach 0.14 percentage points, according to a study by the Bertelsmann Foundation, which also carries out large international study projects. Any reintroduction of border checks would increase the cost of trading abroad.
Last month, the European Commission published an estimate stating that the reintroduction of border controls throughout the whole Schengen area would increase the costs of transporting goods by €55,000 per lorry per year. Slovakia is an export-oriented country which focuses on trading with other countries.