15. May 2020 at 17:22

GDP drops as expected, next quarter will be worse

Analysts stress anti-pandemic measures at home had less impact than decreased foreign demand.

Font size: A - | A +

The novel coronavirus pandemic has already negatively affected the performance of the Slovak economy in the first quarter of this year, despite the fact that the stringent anti-pandemic measures were only put in place in mid-March.

SkryťTurn off ads
SkryťTurn off ads
Article continues after video advertisement
SkryťTurn off ads
Article continues after video advertisement
EU expects Slovakia to enter a deep recession this year
Related article
EU expects Slovakia to enter a deep recession this year

Slovakia's GDP fell by 3.9 percent year-on-year in constant prices in the first three months of this year.

In the last quarter of 2019, the Slovak economy grew at a rate of 2.1 percent, and for the whole of 2019 it grew by 2.4 percent.

The Statistics Office, however, pointed out that the coronavirus outbreak and the measures that it triggered hindered data collection and possibly severe adjustments are to be expected.

Worse than the EU average

The rest of this article is premium content at Spectator.sk
Subscribe now for full access

I already have subscription -  Sign in

Subscription provides you with:

  • Immediate access to all locked articles (premium content) on Spectator.sk

  • Special weekly news summary + an audio recording with a weekly news summary to listen to at your convenience (received on a weekly basis directly to your e-mail)

  • PDF version of the latest issue of our newspaper, The Slovak Spectator, emailed directly to you

  • Access to all premium content on Sme.sk and Korzar.sk

SkryťClose ad