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Growth prospects for Slovakia have improved and we have revised our forecast upwards, mostly due to a better outlook for the EU and strengthening domestic demand. This is supported by the unexpectedly high growth of Slovak GDP in the first quarter of 2015, at 3.1%, compared to annual growth of 2.4% in 2014. We expect the Slovak economy to grow by 2.9% this year, 3.3% in 2016 and 3.4% in 2017, barring escalating sanctions against Russia and assuming a solution of the Greek debt crisis.
|Main Economic Indicators||2012||2013||2014||2015||2016||2017|
|Population, 1000 persons.||5408||5413||5419||.||.||.|
|GDP, real change in %||1.6||1.4||2.4||2.9||3.3||3.4|
|GDP per capita (EUR at PPP)||19600||20000||20800||.||.||.|
|Gross industrial production, real change in %||7.9||4.9||4.0||.||.||.|
|Unemployment rate - LFS, in %, average||14.0||14.2||13.2||11.9||11.0||10.5|
|Average gross monthly wages, EUR||805||824||858||.||.||.|
|Consumer prices, % p.a.||3.7||1.5||-0.1||0.2||1.4||1.7|
|Fiscal balance in % of GDP||-4.2||-2.6||-2.9||.||.||.|
|Public debt in % of GDP||52.1||54.6||53.6||.||.||.|
|Current account in % of GDP||0.9||2.0||0.8||0.2||0.3||0.3|
|FDI inflow, EUR mn||1356||757||27||.||.||.|
|Gross external debt in % of GDP||76.0||82.1||90.1||.||.||.|
Basic data are continuously updated.
* Forecasts are changed beginning of March, July and November.
See Press Conferences.
Monthly Report No. 7-8/2015
Vasily Astrov, Serkan Çiçek, Rumen Dobrinsky, Vladimir Gligorov, Doris Hanzl-Weiss, Peter Havlik, Mario Holzner, Gabor Hunya, Sebastian Leitner, Isilda Mara, Olga Pindyuk, Leon Podkaminer, Sandor Richter and Hermine Vidovic
wiiw Monthly Report No. 7-8, July-August 2015
25 pages including 1 Table and 2 Figures
SLOVAKIA: Domestic demand driving growth
in: A Time of Moderate Expectations
wiiw Forecast Report No. Spring 2015, March 2015 , pp. 79-81 Details and Buy