Structural Reforms and Economic Outlook of Slovakia

Interest Payments Development ARDAL Interest payments are at historical lows as a percentage of GDP ✓ ECB's PSPP further helped in decreasing interest payments ✓ Sharp drop in 2021, 2020 and partially in 2019 due to significant premium received (bonds issued above par) 1.30 1.20 1.10 1.00 0.90 0.80 0.70 0.60 0.50 2013 2014 Interest Payment Dynamics for Slovakia THE 2015 2016 Interest payments in EUR bn (lhs) 2017 2018 2019 --Interest payments in % of GDP (rhs) H 29 2.0% 1.8% 1.6% 1.4% 1.2% 1.0% 0.8% 0.6% 2020 2021 Source: ARDAL, data as of June 30, 2021

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