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Coronavirus „infects“ the Slovak economy (April 2020)

The crisis induced by the coronavirus pandemic will also affect the development of the Slovak economy in the coming years. The contagion rewrites global statistics and changes Slovakia's macroeconomic forecast. Accordingly, we expect the Slovak economy to fall into recession of 7.2 per cent in 2020. In the second half of the year, the economy will gradually recover and GDP growth is set to climb up to 6.8 per cent in 2021. However, the uncertainty about further developments remains high. An extension of the pandemic or its recurrence in the second half of the year would severely deepen the recession.