Fiscal Balance in Slovakia
Slovakia - Fiscal BalanceAvailable data points to a gradual recovery in Q3, following the unprecedented GDP drop in Q2. In August, the decline in industrial production softened for the fifth consecutive month, while merchandise exports rose at the strongest pace in over a year. Additionally, goods imports dropped at a softer pace in the same month, while retail sales rebounded in July–August, largely due to increased sales of electronics and recreational goods. This, coupled with consumers turning less pessimistic on average in Q3 compared to Q2, bodes well for household consumption. Nonetheless, a surge in Covid-19 cases prompted the reinstatement of the state of emergency on 1 October, which could lead to new restrictions and thus hamper activity in Q4. Lastly, on 14 October, the government approved its 2021 draft budget, based on a 5.5% growth forecast and envisioning a fiscal deficit of 7.4% of GDP.
Slovakia - Fiscal Balance Data
|Fiscal Balance (% of GDP)||-2.7||-2.5||-1.0||-1.0||-1.3|
5 years of economic forecasts for more than 30 economic indicators.
|Bond Yield||0.13||-4.12 %||Dec 31|
|Exchange Rate||1.12||0.65 %||Dec 31|
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January 14, 2021
Consumer prices edged down 0.10% in December, contrasting November’s 0.10% rise and dropping for the first time since August.
December 14, 2020
Consumer prices inched up 0.10% in November, matching October’s increase.
December 10, 2020
Industrial output contracted 2.5% in annual terms in October, dropping at a sharper pace than September’s 0.2% decline.
December 4, 2020
A second estimate confirmed that the economy shrank 2.4% on an annual basis in Q3, matching the preliminary release and softening markedly from the record-breaking 12.1% dive tallied in Q2.
November 13, 2020
According to a preliminary estimate, the economy contracted at a softer pace in Q3, with GDP declining 2.4% year-on-year (Q2 2020: -12.1% year-on-year) as the easing of Covid-19 restrictions from May allowed activity to resume.