IMF expects Slovak economy to fall by 7.1 percent this year

In its current World Economic Outlook report, the International Monetary Fund (IMF) forecasts that the Slovak economy will decline significantly this year, while it is expected to revive next year. IMF forecasts that Slovakia's gross domestic product (GDP) will fall by 7.1 percent this year. In 2021, it is set to increase by 6.9 percent. The unemployment rate will rise to 7.8 percent this year from 5.8 percent last year. In 2021, it should then decrease to 7.1 percent.