Slovakia
Slovakia is experiencing solid growth, with an extra kick to come from an expansion of the automotive industry in the near future. Backed by growing household consumption and finally increasing gross fixed capital formation, GDP is expected to grow by 3.8% in 2018, also benefiting from the expansion of exports from the new Jaguar Land Rover plant which should be put in operation in the final quarter of the year. This trend should accelerate in 2019, with a projected GDP growth rate of over 4%.
| 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 | 23000 | . | . | . |
| Gross industrial production, real change in % | 6.0 | 3.8 | 2.9 | . | . | . |
| Unemployment rate - LFS, in %, average | 11.5 | 9.7 | 8.1 | 6.8 | 6.3 | 6.0 |
| Average gross monthly wages, EUR | 883 | 912 | 954 | . | . | . |
| Consumer prices, % p.a. | -0.3 | -0.5 | 1.4 | 2.8 | 2.5 | 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 | -1.5 | -0.7 | -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.
Monthly Report No. 6/2018
Vasily Astrov, Rumen Dobrinsky, Richard Grieveson, Doris Hanzl-Weiss, Peter Havlik, Gabor Hunya, Sebastian Leitner, Isilda Mara, Olga Pindyuk, Leon Podkaminer, Sandor Richter and Hermine Vidovic
wiiw Monthly Report No. 6, June 2018
27 pages including 1 Table and 1 Figure
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