Structural Reforms and Economic Outlook of Slovakia
Slovakia - A Top Performer among Eurozone Countries
ARDAL
Slovakia's economic performance declined in 2020 due to coronavirus - in line with that of peer countries
ā Healthy and competitive external sector and industrial production supported by drawings from EU funds and
RRP suggest a high growth potential for Slovakia
ā Convergence is almost complete for the unemployment and inflation rates
Slovakia's Public Debt to GDP is one of the lowest in the region, at around 60% compared to 98% Eurozone
average, and therefore has a sufficient room to face COVID-19 emergency
Net debt in 2020 only at 52.8 % of GDP (net debt = gross debt - assets managed by ARDAL)
Real GDP growth (%)
Inflation- HICP (%)
Unemployment rate (%)
Current Account Balance (% of GDP)
Budget Balance (% of GDP)
Structural Budget Balance (% of pot. GDP)*
General Government Gross Debt (% of GDP)
Slovakia Belgium Finland
2019 2020 2019 2020 2019 2020
Eurozone
2.5
(4.8)
1.8 (6.3) 1.3
2019 2020
(2.9) 1.5 (6.3)
2.8
2.0
1.2 0.4
1.1
0.4
1.2 0.3
5.8
6.7
5.4 5.6 6.7
7.8
7.6
7.9
(2.7) (0.4) 0.3
(0.2) (0.3) 0.8
3.1 3.0
(1.3) (6.2)
(1.9) (9.4) (0.9) (5.4) (0.6) (7.2)
(2.3) (4.7)
(2.8) (5.6) (1.2) (3.4) (1.2) (3.6)
48.2 60.6
98.1 114.1 59.5 69.2
83.9
98.0
+
Source: Eurostat, EC
EC spring forecast 2021
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