Economy shrank 5.2% in pandemic year of 2020

The Slovak economy shrank 5.2% in the pandemic year of 2020, reported the statistics office ŠÚ. This is the first contraction since 2009, when GDP fell 5.5%. Exports were down 7.2%, but household consumption just 1.2%. Investment plummeted 11.9%. This year, the economy will rebound by about 4%, but won’t return to a pre-pandemic level before the first half of 2022.

(trend.sk)