War in Ukraine will hit the Slovak economy hard

War in Ukraine will hit the Slovak economy hard

Slovakia will suffer a 2.7 percentage point slowdown in economic growth this year as a result of Russia's invasion of Ukraine. According to the Denník N Daily, this is the most of any EU country. Comparing the European Commission's May and February forecasts, the Czech Republic, Latvia, Estonia and Germany also saw their forecasts for growth this year worsen by more than two percentage points. Real GDP growth in both the EU and the euro zone is expected to be 2.7 percent in 2022, down from the 4 percent projected by the European Commission back in February.

Source: Denník N, Euroactiv

Marianna Palková, Photo: AP/TASR

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