Ministry of Finance of the Slovak republic, Štefanovičova 5, 817 82 Bratislava, IČO: 00151742. www.mfsr.sk

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Second wave hinders economic recovery (March 2021)

The second wave of the pandemic will mitigate the output growth to 3.3 per cent this year. The impact is milder when compared to the first wave, affecting mainly household consumption, while exports will continue to support the economy. The labour market will remain stable, adding new jobs in the second half of the year.  With the pandemic easing off, the economy will grow by a strong 6.3 per cent in 2022, owing also to the EU´s Recovery and Resilience Plan. The last-minute drawing of EU funds will boost output in 2023. Negative risks include a stricter lockdown and logistical issues concerning the vaccination process. In contrast, generous stimulus packages in the US and the EU could spur  Slovak export.

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Ministry of Finance
of the Slovak republic

Štefanovičova 5
P. O. BOX 82
817 82 BRATISLAVA
IČO: 00151742

+421 2 5958 1111
podatelna@mfsr.sk

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