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

[This is alternative, blind friendly, text version of the webpage.] Go to the grafic version.


or go to the main menu. Other possibilities: Go to Search; Functional links; Footer links; Footer.

Continue reading or go to the main menu. Other possibilities: Menu; Sections; Go to Search; Footer.

CONTENT:


Top of Page, title:

Recovery closely watched by inflation (February 2022)

Omicron, inflation and component shortages will delay the full recovery of the Slovak economy, which is projected to grow by 3.5 per cent in 2022. The economy will stagnate at the beginning of the year due to temporary staff shortages, but high inflation will also weigh in by decreasing real wages and household consumption. Economic activity will revive after the pandemic eases in the second quarter, with job creation speeding up. Resources from the Recovery and Resilience Plan (RRP) will be responsible for the half of this year's output growth, provided that all necessary reforms are implemented. We expect GDP to grow by 5.3 per cent next year, partly owing to higher EU funds absorption at the end of the current programming period. Given the uncertainty related to the economic consequences of the omicron variant, the forecast also includes an alternative scenario with a more sizeable impact of the fourth wave. Energy prices too feed into the uncertainty, but we expect them to decrease somewhat and stabilise during the summer months.

End of content.


MENU:

You are here:

  1. MFSR
  2. Finance
  3. Institute for Financial Policy
  4. Policy Briefs
  5. Recovery closely watched by inflation (February 2022)

Continue the menu:


SECTIONS:


SEARCH:


FOOTER:

MFSR Portals

Menu

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

Contacts

Continue reading or go to the main menu. Other possibilities: Conetent; Sections; Go to Search; Footer.