Fiscal Balance in Slovakia
Slovakia - Fiscal BalanceThe economy appears to have taken a hit toward the end of the first quarter, with worse likely to come in Q2, due to Covid-19 and its associated containment measures. Consumer confidence nosedived to the lowest level since April 2009, while sentiment in the industrial sector plunged to record lows in the same month amid falling production and deteriorating export expectations. Meanwhile, in mid-April the government announced additional relief measures of about EUR 220 million per month on top of the initial fiscal package of roughly EUR 1.5 billion monthly put forward at the end of March. The new measures aim to support the maintenance of employment and include the introduction of a short-term work scheme, which will pay up to 80% of employees' wages to firms that have had to cancel operations. In other news, on 22 April, small shops and outdoor markets were allowed to reopen, marking the first step in restarting the economy.
Slovakia - Fiscal Balance Data
|Fiscal Balance (% of GDP)||-2.7||-2.7||-2.5||-1.0||-1.1|
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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May 20, 2020
Consumer prices remained unchanged in April, matching March’s flat reading.
May 15, 2020
According to a preliminary GDP estimate, the economy contracted in the first quarter, with GDP decreasing 3.9% (Q4: +2.1% year-on-year) as the Covid-19 pandemic and its associated confinement measures delivered a heavy blow.
May 11, 2020
Industrial output fell 19.6% compared to the same month a year earlier in March, which followed February's 1.7% decrease.
April 15, 2020
Consumer prices remained unchanged in March, following February’s 0.1% increase.
April 9, 2020
Industrial production fell 1.5% over the previous year in February, contrasting January’s 0.5% rise.