Inflation in Slovakia should culminate at the beginning of the year, attacking the threshold of 7 percent in January. Slovakia's central bank governor Peter Kazimir stated this at the 25th annual conference held by the Slovak Chamber of Commerce and Industry on Thursday.
Inflation should gradually fall to a level of some 4 percent in the next few months, and average inflation for the whole year should reach 5.7 percent in 2022, said Kazimir. The inflation growth is being fuelled by high energy prices, which have been reflected in regulated prices for households and small companies as of January. Conversely, one piece of good news is that the global economy should grow by almost 6 percent this year and next year despite the fact that it will still be influenced by the coronavirus pandemic.
According to Kazimir, the pandemic will not cause permanent damage to living standards and economic growth, as governments have supported the private sectors effectively during the crisis. They continue to invest hugely, and developed economies have been significantly modernised under the influence of the crisis. "The ability of our own Government to support the modernisation of the economy effectively will also be important," added Kazimir.
Source: TASR
