Slovakia will be faced the fifth highest unemployment level across the EU in 2013, reaching 14.5 percent, writes the European Commission in its spring forecast. Only four countries will find themselves in a worse situation. Greece and Spain are expected to report the highest figure within the EU - on 27 percent in 2013 as well as 2014. Prospects are rather pessimistic also for Portugal (18.2-18.5 percent) and Cyprus (15.5-16.9 percent). On the other hand, the European Commission expects Slovakia’s GDP to accelerate to 2.8% in 2014. In addition, over the next three years Slovakia will save €800 million more than what Brussels requests. If the prognosis comes true, Slovakia will be one of two countries that will manage to slash their deficit below the 3% limit this year [the other country being Belgium].
On the whole, the prognosis suggests that the economic recovery in the European Union will be too slow to slow down the growth of unemployment. The overall unemployment in the EU will reach 11.1 percent in 2013 with 12.2 percent foreseen for the eurozone [both figures are slightly higher than they are today - ed. note]. The situation should stabilise in 2014, however, there will be high differences between individual member states.
Lucia Pazičová
