slovakia

The moment of uncertainty experienced due to the war in Ukraine is having a significant impact on Slovakia's economic activity and, consequently, on its economic growth, with GDP forecast to grow by 1.8% in 2022, 1.5% in 2023 and 3.4% in 2024.

In 2022, the inflation rate is expected to reach 11.9% - however, with the implementation of more restrictive monetary policies, it is expected that in 2023 the inflation rate will decrease to 10.1% and in 2024 to 4.4%.

Continued supply chain disruptions and subdued global demand will hold back export growth in 2023. On the flip side, investment growth will remain robust, underpinned by the absorption of EU funds.

Source International Monetary Fund OECD: economic report November 2022