Slovakia

map Slovakia
In 2024, Slovakia’s economic growth is likely to reach 2%, driven mainly by household consumption on the back of rising real wages and a favourable labour market. Growth is expected to pick up gradually in the coming years. However, fiscal consolidation plans, which include phasing out energy subsidies and hiking the VAT rate, will probably push inflation up to above 5% next year. Overall, both domestic and external risks are rising, and the outlook for the key automotive sector is uncertain.
        FORECAST*
Main Economic Indicators202120222023202420252026
Population, 1000 persons544754325427...
GDP, real change in %5.70.41.42.02.22.6
GDP per capita (EUR at PPP)242702544027800...
Gross industrial production, real change in %10.7-4.54.2...
Unemployment rate - LFS, in %, average6.86.15.85.45.25.2
Average gross monthly wages, EUR121113041430...
Consumer prices, % p.a.2.812.111.02.95.13.4
Fiscal balance in % of GDP-5.1-1.7-5.2-6.0-5.0-4.0
Public debt in % of GDP60.257.756.1...
Current account in % of GDP-4.8-9.6-1.7-1.4-1.1-1.0
FDI inflow, EUR m22994607-303...
Gross external debt in % of GDP131.9105.496.0...


Basic data are continuously updated.

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

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Monthly Report No. 7-8/2024

Vasily Astrov, Alexandra Bykova, Rumen Dobrinsky, Selena Duraković, Meryem Gökten, Richard Grieveson, Doris Hanzl-Weiss, Gabor Hunya, Branimir Jovanović, Niko Korpar, Sebastian Leitner, Isilda Mara, Olga Pindyuk, Sandor Richter, Bernd Christoph Ströhm, Maryna Tverdostup, Zuzana Zavarská and Adam Żurawski
wiiw Monthly Report No. 7-8, July-August 2024
45 pages including 5 Tables and 12 Figures

Details

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Executive summary

Olga Pindyuk
in: The Crisis is Over, but its Scarring Effects are Hindering Recovery
wiiw Forecast Report No. Spring 2024, April 2024 , pp. I-VII
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