Slovakia's economic growth in 2023 was at 1.1 per cent, growth in 2024 could reach 2.3 per cent and in 2025 it should be 2.6 per cent. This is stated in the preliminary winter economic forecast of the European Commission published on Thursday.
The weakening economic outlook in the country's main export destinations resulted in a fall in exports and imports, accompanied by a fall in inventories. Real gross domestic product is estimated to have grown by 1.1% last year, slightly below the autumn forecast. Exports are expected to increase as the economic situation in Slovakia's main export destinations is expected to improve.
Drawing EU funds is seen as a significant contribution to investment growth also in 2024 and 2025. The Commission expects funding conditions to ease over the forecast period, but to remain relatively tight, which will dampen private investment to some extent.
Inflation was 11% in 2023 due to high energy prices and their pass-through to other components. The inflation rate is expected to fall to 3.5% in 2024 as energy and consumer food price increases are expected to moderate.
Source: TASR
