IFP: Slovakia's tax income growth to drop almost by half in 2020

The growth in state tax and levy income is projected to slow down from 6.1 percent to 3.2 percent in 2020, mostly due to slower wages growth and last year's legislative measures, Financial Policy Institute (IFP) reported in its latest prognosis on Friday. However, IFP expects tax and levy income growth gradually to pick up pace to 4.3 percent in 2021, 4.5 percent in 2022 and, finally, 5.7 percent in 2023. "As of 2021, there's going to be a revival in the income growth fuelled by renewed acceleration in wages growth and households consumption. Furthermore, in 2023, the growth in income is to be further boosted by the conclusion of Eurofund period," wrote IFP.