Slovak Republic: Highest growth in OECD

Although the Slovak Republic will continue to maintain the highest growth rate among OECD countries over the next two years, activity is expected to decelerate significantly in 2009. In particular investment spending and trade growth are likely to be adversely affected by the effects of the financial crisis. Growth is envisaged to return to close to its potential rate towards the end of the projection horizon. Inflation rates should decline from their currently high levels, but to stay above euro area levels.
Dealing with the adoption of the euro, which will take place on 1 January 2009, will determine policy priorities. Although the expected slowdown will damp the danger of a boom-bust cycle induced by low real interest rates, fiscal policy should be used cautiously. Rising house prices and household indebtedness should be closely watched.


Economic data

GDP growth: +0.3% Q3 2019
Consumer price inflation: 1.8 % Nov 2019 annual
Trade (G20): -0.7% exp, -0.9% imp, Q3 2019
Unemployment: 5.1% November 2019
Last update: 15 January 2020

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