08. 11. 2019 13:44
The latest forecast of the European Commission says that the Slovak economy slowed markedly in 2019. Following its fast growth of 4% last year, the economy will grow only by 2.7% this year. As a result of significant salary growth and record-low unemployment, private consumption will continue to be a significant source of GDP growth, but weaker demand from key trading partners in the EU will "take its toll" in the form of lower exports to those countries, mainly in 2019. However, in the coming years, according to the Commission, the Slovak economy will grow at a steady pace of around 2.6% per year. The unemployment rate in Slovakia, based on the Commission's forecast, will drop slightly this year to a new record low of 5.9 % and will remain roughly at this level for the next two years.