Slovakia
The outlook for Slovakia is grim, with GDP forecast to drop by about 9% in 2020 (recovering somewhat in 2021, by 4.6%). Worldwide, the automotive industry is particularly badly affected by the COVID-19 crisis, and that goes for Slovakia, too – all four car companies have been closed since mid-March. A new government took over in the midst of the crisis, and is now focusing on fighting it.
| FORECAST* | ||||||
|---|---|---|---|---|---|---|
| Main Economic Indicators | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 |
| Population, 1000 persons | 5439 | 5447 | 5454 | . | . | . |
| GDP, real change in % | 3.0 | 3.9 | 2.4 | -9.0 | 4.6 | . |
| GDP per capita (EUR at PPP) | 21500 | 22600 | 23500 | . | . | . |
| Gross industrial production, real change in % | 3.2 | 4.4 | 0.4 | . | . | . |
| Unemployment rate - LFS, in %, average | 8.1 | 6.5 | 5.8 | 8.2 | 8.7 | . |
| Average gross monthly wages, EUR | 954 | 1013 | 1092 | . | . | . |
| Consumer prices, % p.a. | 1.4 | 2.5 | 2.8 | 2.0 | 1.8 | . |
| Fiscal balance in % of GDP | -1.0 | -1.1 | -1.3 | . | . | . |
| Public debt in % of GDP | 51.3 | 49.5 | 48.0 | . | . | . |
| Current account in % of GDP | -1.9 | -2.6 | -2.9 | -3.1 | -1.8 | . |
| FDI inflow, EUR mn | 3749 | 2158 | 2067 | . | . | . |
| Gross external debt in % of GDP | 111.4 | 113.7 | 111.9 | . | . | . |
Basic data are continuously updated.
* Forecasts are changed beginning of March, July and November.
See Press Conferences.
Forecasts as of March 2020 considering the effect of COVID-19 with a severe scenario. Due to this uncertain situation we only offer forecasts for GDP.
Monthly Report No. 5/2020
Vasily Astrov, Alexandra Bykova, Rumen Dobrinsky, Richard Grieveson, Doris Hanzl-Weiss, Gabor Hunya, Sebastian Leitner, Isilda Mara, Olga Pindyuk, Leon Podkaminer, Sandor Richter, Bernd Christoph Ströhm and Hermine Vidovic
wiiw Monthly Report No. 5, May 2020
96 pages including 27 Tables and 39 Figures
SLOVAKIA: Low and vulnerable growth
Doris Hanzl-Weiss
in: Uncertainty in Turbulent Times
wiiw Forecast Report No. Spring 2020, March 2020 , pp. 139-142
Details and Buy