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The economy is projected to grow at a strong pace. Private consumption will continue to benefit from the increasingly robust labour market. Intensifying labour shortages will boost wage growth and, thereby, inflation. Exports will move up vigorously, as new automotive production capacity comes on stream. Business investment will remain strong, while public investment should pick up with the launch of new infrastructure projects.
The government should continue with consolidation, given strong growth and the absence of spare capacity. It should also enhance public-sector efficiency in order to finance much needed structural reforms. In particular, measures to improve efficiency in education and enhance Roma integration are important to improve well-being and make growth more inclusive and sustainable.
Economic Survey of the Slovak Republic (survey page)