Slovakia’s economy is running out of steam as sluggish growth decelerates

Slovakia’s economic growth slowed to 0.8% last year, following 1% growth in 4Q25, according to a flash estimate from the statistical office ŠÚ. In 4Q25, the economy was supported by public investment and exports, while fiscal consolidation dampened domestic demand. Employment declined 0.1% last year after a 0.2% drop in 2024, with the total number of employed falling 0.2% to 2.4m in 4Q25.

Analysts expect GDP growth to accelerate slightly this year to 1-1.3%, supported by ECB monetary easing and the launch of the fourth unit at the Mochovce nuclear power plant and the Volvo car plant. Fiscal consolidation will continue to weigh on growth. (dennikN.sk) The Finance Ministry forecasts 1% GDP growth and 3.8% inflation this year. (aktuality.sk)

Slovakia’s growth remained well below the EU average of 1.5% in 4Q25, according to Eurostat. Seasonally adjusted GDP growth:

	4Q 25	3Q 25
Poland	3.6%	4.0%
Czechia	2.4%	2.8%
Slovakia	0.8%	0.9%
Austria	0.7%	1.0%
Hungary	0.5%	0.7%

(Eurostat)