Optimistic Forecasts: Economy of Slovakia May Grow after this Autumn’s Fall

Analysts predict that this year, due to a sever international crisis caused by the pandemic, Slovak economy may fall by 7%. However, according to the latest forecasts, the economy indicators will rise again in 2021. Such an optimistic macroeconomic prognosis made by some influential banks has been recently published by the National Bank of Slovakia (NBS).

Photo: pixabay/JillWellington

It should be added that, if compared to August 2020, the analysts have revised their predictions changing the original 7.6% drop expectations to the final 7%. In addition, many experts state that the economy should grow by 5.8% in 2021.

The latest forecasts for the unemployment and average salary rates have been changed as well. As of today, the unemployment indicator is expected to make 7.3% by the end of 2020. If compared to the August predictions, it was projected to reach 8.2%. Expectations as for an increase in regular salaries constitute 2%, instead of the 1.6% mentioned in August.

Source: spectator.sme.sk