IFP: Slovak economy growth should accelerate this year to 2%, inflation to fall

The growth of the Slovak economy will accelerate to 2% this year from 1.1% last year and it'll be supported by receding inflation and a recovery in domestic demand, according to the latest macroeconomic forecast published on Friday by the Finance Ministry's Financial Policy Institute (IFP).

The institute announced that the economy's performance will peak with growth at 3.1 percent in 2025. Half of the growth is to be provided by the drawing of funds from the Recovery and Resilience Plan.

Inflation is expected to fall significantly to 3 percent this year from 10.5 percent last year. "Food prices, which were one of the main causes of high price increases in the recent past, have stabilised, as have the prices of tradable goods and services,” stated the Institute.