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| NBS: Economy to Grow by 4.5 percent This Year, Recovery Continues |
| Bratislava, 29.06.2021 |
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| The Slovak economy continues to recover and will grow by 4.5 percent this year, Slovak central bank (NBS) governor Peter Kazimir and NBS vice-governor Ludovit Odor stated on Tuesday at a press conference at which they presented a forecast of economic and monetary developments for the summer of 2021.
The central bank estimates that gross domestic product (GDP) will grow by 5.9 percent year-on-year in 2022 and by 3.8 percent in 2023. According to NBS predictions, Slovakia should return to its pre-crisis trajectory in 2023.
NBS pointed out that the risks that may dampen economic growth are insufficient levels of vaccination among the population, a third wave of the novel coronavirus pandemic in the autumn and a lack of components, mainly in industry.
“There’s another phenomenon that has returned after a number of years, and that is inflation or rising prices. Prices of goods and services have started to go up sharply, but in our opinion there is no reason to panic,” said Kazimir, adding that this rise in prices will slow down in a few months.
The governor went on to say that the situation on the labour market is slightly worse than last year, which is mainly due to redundancies in the public sector. NBS estimates that nominal salaries will increase by around 5 percent this year and real salaries by about 3 percent.
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Address : Euro-Brew Ltd., Hlboká 22, 917 01 Trnava, Slovakia
Tel. : +421 33 53 418 53, Fax : +421 33 53 418 52, E-mail : info@eurobrew.sk |
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