Slovakia
Slovakia grew at a solid pace throughout 2017, fostered by accelerating household consumption. Forecasts for this and the next year amount to 3.8% and around 4%, respectively, thanks to capacity increases in the automotive industry, before falling back to 3.3% in 2020. However, growing wages and labour shortages may threaten future growth prospects.
| FORECAST* | ||||||
|---|---|---|---|---|---|---|
| Main Economic Indicators | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 |
| Population, 1000 persons | 5424 | 5431 | 5430 | . | . | . |
| GDP, real change in % | 3.9 | 3.3 | 3.4 | 3.8 | 4.2 | 3.3 |
| GDP per capita (EUR at PPP) | 22300 | 22400 | 23300 | . | . | . |
| Gross industrial production, real change in % | 7.3 | 4.8 | 3.9 | . | . | . |
| Unemployment rate - LFS, in %, average | 11.5 | 9.7 | 8.1 | 7.7 | 7.2 | 6.8 |
| Average gross monthly wages, EUR | 883 | 912 | 954 | . | . | . |
| Consumer prices, % p.a. | -0.3 | -0.5 | 1.4 | 2.0 | 1.8 | 2.2 |
| Fiscal balance in % of GDP | -2.7 | -2.2 | -1.0 | . | . | . |
| Public debt in % of GDP | 52.3 | 51.8 | 50.9 | . | . | . |
| Current account in % of GDP | -1.8 | -1.5 | -2.1 | -0.6 | 0.3 | 0.5 |
| FDI inflow, EUR mn | 1357 | 3234 | 5313 | . | . | . |
| Gross external debt in % of GDP | 85.2 | 90.9 | 110.8 | . | . | . |
Basic data are continuously updated.
* Forecasts are changed beginning of March, July and November.
See Press Conferences.
SLOVAKIA: Future growth constrained by labour shortages
Doris Hanzl-Weiss
in: Riding the Global Growth Wave
wiiw Forecast Report No. Spring 2018, March 2018 , pp. 142-145
Details and Buy
Monthly Report No. 1/2018 - Special Issue: 25 years break-up of Czechoslovakia
Vladimir Gligorov, Doris Hanzl-Weiss, Tomáš Holub and Ivan Mikloš
wiiw Monthly Report No. 1, January 2018
46 pages including 1 Table and 30 Figures