Slovak economy will contract 7.2% this year, predicts the Finance Ministry
The Slovak economy will shrink 7.2% this year, according to the latest Finance Ministry prediction. It also predicts a drop in inflation to 1.7% and an increase in unemployment by half to 7.7%. Workers will lose jobs mainly in the tourism, retail, transport, and restaurant sectors. A strong rebound should follow, with the economy growing 6.8% in 2021. The prediction is based on a 2-month outage in economic activity in Slovakia and the EU.