OECD predicts growth of the Slovak economy in upcoming two years

The Organization for Economic Cooperation and Development (OECD), in its current forecast published in the World Economic Outlook, calculates the pace of growth of the Slovak Gross Domestic Product in 2019 by 4.3% and by 3.6% in 2020. Exports will be boosted thanks to the automotive sector, while the improved situation on the labour market and a growth in investments thanks to the increased use of EU funds will contribute to high domestic demand. The increase in wages will accelerate inflation in 2020 to 3% from 2.7% in this year and next year. The OECD also confirmed that the government's plans for fiscal consolidation were in line with the requirements of the European Union. The latter expects a gradual decline in the government deficit from 0.7% of GDP this year to 0.4% of GDP in 2019 and 0% of GDP in 2020.