OECD: Slovak economy projected to grow by 4.2% in 2021

Slovak Foreign Ministry State Secretary Ingrid Brocková praised the priorities of new OECD Secretary-General Mathias Cormann at the OECD meeting on Tuesday, 1 June, among which are strengthening economic resilience, sustainable and inclusive growth and addressing climate and environmental challenges.

The meeting has gathered Leaders and Ministers from the OECD's 38 countries virtually under the theme of "Shared Values: Building a Green and Inclusive Future". The main item on the agenda was an assessment of the current state of the global economy in the context of a coronavirus pandemic.

According to the OECD economic forecast, the Slovak economy is projected to grow by 4.2% in 2021 and 5.2% in 2022. After a strict lockdown in early 2021, domestic demand will rebound from the second half of the year as vaccines continue to be rolled out and most containment measures are lifted. Investment will accelerate in 2022, aided by EU structural funds and the new EU Recovery and Resilience Facility. Unemployment will fall gradually, but still remain above pre-crisis levels at the end of 2022.