Investor Presentaiton

Slovakia - Credit Strengths 2ARDAL 2003 Agentúra pre riadenie dlhu a likvidity 2023 Dobi and Liquidity Management Agency Strengths Credit キ Resilient Economic Growth Sound Fundamentals Fiscal Discipline Steady Debt Dynamics • Strong track record of economic growth and high GDP per capita: compares well relative to EU peers Moderate economic downturn in pandemic: -3.4% in 2020 vs. -6.1% for euro area in real GDP terms and solid post-pandemic growth prospects An export-oriented performer with balanced external accounts: moderate current account deficits explained by investment imports Well capitalized banking sector profitable with good asset quality Approved multi-annual expenditure ceilings: fundamental fiscal reform outlining medium-term objectives for 2023-2025 Budget targets deficit to decline close to 3% of GDP in 2025 Public debt stabilized under 60% of GDP, still well below the Euro Area average High debt affordability: interest costs around 1.2% of GDP up to 2025 Export Oriented Competitive export sectors with high value niches in key industrial sectors (motor vehicles, machinery, equipment, metal products, electronics, etc.) Member of Key Political and Economic Organizations EU and Eurozone membership: supports Slovakia's institutional strength and credible macroeconomic policies 牛 5 Source: Moody's, IMF

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