RRZ puts the likelihood of a recession in Slovakia at 90%

The Slovak economy might contract this year, warns the fiscal responsibility council RRZ, putting the likelihood of a recession at 90%. Even without the recession, public finances face a 2.4% of GDP deficit this year, also thanks to the recently approved changes to the pension system. The long-term sustainability of public finances deteriorated substantially last year, to the level last seen shortly after the 2008 global financial crisis.

(RRZ)