The Slovak economy is currently experiencing the best period of its economic cycle. Economic growth should peak at 4.3% during the years 2018 and 2019, gradually weakening afterwards. As analyst with UniCredit Bank Ľubomír Koršňák adds, economic growth could slow down to 2.5% in 2020. While the driving force of the local economy last year was domestic demand and investments, this year's slowdown will be still offset by the full launch of the new automaker in Nitra. The fact is, however, that the Slovak economy will face a number of risks in the coming months. Of the global risks, the greatest remain protectionism in foreign trade, Brexit negotiations, as well as geopolitical risks.
According to Economy Minister Peter Žiga, 2018 was a successful year for the economy, mainly due to the fact that two important laws were passed - the Investment Incentives Act and the Renewable Energy Act. In an interview for TASR news agency, Žiga went on to say that the ministry has long been aware of the fact that the state should support those investments in Slovakia that lead to support of higher added value, or those going to less developed regions. With regard to 2019, the Economy ministry has already registered about 70 investment projects that showed interest in Slovakia, although it's not certain how many of these will materialise.
