Slovakia's economy might contract by 6.3 percent this year. The situation is expected to improve though, and the economy is projected to grow at 2.7 percent in 2021, and by 4.3 percent in 2022.
This stems from the recent OECD Economic Outlook.
Inflation will stay low
The OECD predicts that consumption in Slovakia will gradually recover thanks to higher disposable income, improved conditions at the labour market and the increased household confidence as an effective vaccine is rolled out.
Investment growth will be limited by high uncertainty, weakened corporate balance sheet and low capacity utilisation.
Unemployment is set to fall gradually, but will remain above pre-crisis levels until the end of 2022, the report reads.
1. Dec 2020 at 17:51 | Compiled by Spectator staff