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Despite the persistently unfavourable COVID-19 situation, the economy has rebounded strongly and exceeded the pre-pandemic level in Q2 2021. But inflation has also accelerated markedly. In response, the policy interest rate has been hiked sharply, and more rises are likely to follow. Real GDP is projected to grow by 4% this year and by around 3% per year in 2022-23.
        FORECAST*
Main Economic Indicators201820192020202120222023
Population, 1000 persons146831146765146460...
GDP, real change in %2.82.0-3.04.03.02.8
GDP per capita (EUR at PPP)194501961020120...
Gross industrial production, real change in %3.53.4-2.2...
Unemployment rate - LFS, in %, average4.84.65.85.14.84.6
Average gross monthly wages, EUR592660623...
Consumer prices, % p.a.2.94.53.46.24.43.2
Fiscal balance in % of GDP2.91.9-4.01.01.51.5
Public debt in % of GDP12.112.417.7...
Current account in % of GDP7.03.92.45.65.95.7
FDI inflow, EUR m7453285488296...
Gross external debt in % of GDP28.329.129.3...


Basic data are continuously updated.

* Forecasts are changed beginning of April, July and November.
See Press Conferences.

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Monthly Report No. 10/2021

Andrei V. Belyi, Michael Landesmann, Sebastian Leitner and Isilda Mara
wiiw Monthly Report No. 10, October 2021
51 pages including 2 Tables and 32 Figures

Details

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Executive summary

Vasily Astrov
in: Recovery Beating Expectations
wiiw Forecast Report No. Autumn 2021, October 2021 , pp. I-VI
Details


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