Macro - Country Economic Forecasts - Slovak Republic

Macro - Country Economic Forecasts - Slovak Republic

We've raised our 2023 GDP growth forecast for Slovakia by 0.4ppts to 0.9%. This reflects a better-than-expected outturn in Q2, but we think the economic resilience is petering out. Growth in Q2 was driven almost exclusively by the resurgence of goods exports, which is unlikely to repeat in H2 as the external backdrop continues to worsen. Meanwhile, domestic demand weakened further and is yet to trough. We expect growth will gradually pick up to 1.1% in 2024.