The national bank’s forecast: Slovakia’s economy is going downhill

Slovakia’s economic growth will decelerate to 2.4 percent in 2020.

National Bank of Slovakia's governor Peter KažimírNational Bank of Slovakia's governor Peter Kažimír (Source: TASR)

The National Bank of Slovakia (NBS) confirmed the figures that analysts have worked with for several weeks now: Slovakia’s economic growth is predicted to slow down.

In 2019, growth is expected to decelerate to 2.5 percent. One year later, it will drop to 2.4 percent.

Read alsoBad news, analysts say about the rapid slowdown of Slovakia’s economy Read more 

“The Slovak economy is going downhill, but there is no sign of an abyss at this point,” NBS governor Peter Kažimír told the press conference, where he presented the bank’s medium-term forecast, as quoted by the SITA newswire.

However, the economy is expected to accelerate to 2.7 percent in 2021.

No need to panic

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