The central bank is optimistic about this year's economic growth

The forecast for next year’s GDP development is slightly worse, though.

NBS governor Peter KažimírNBS governor Peter Kažimír (Source: TASR)

Slovakia’s central bank, which closely follows the analysts of the Finance Ministry and selected commercial banks, has revised its prediction for economic growth.

In its recent forecast, the National Bank of Slovakia (NBS) predicts the gross domestic product will contract by 8.2 percent this year, which is much better than its previous expectation of a 10.3-percent fall.

Related articleKažimír: Slovak economy is in free fall Read more 

On the other hand, it worsened the growth prediction for 2021, decreasing it from 8.4 percent to the current 5.4 percent, and for 2022 by 0.3 percentage points to 4.2 percent.

The GDP growth could return to its pre-crisis levels in mid-2022, the SITA newswire reported.

Negative risks prevail

The gradual restart of companies and shops after the spring decline results in an excepted growth trajectory. However, unlike the June prediction, the restoration in the coming months is expected to be slower.

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