Impact of hard Brexit on Slovak economy estimated at 0.7-1.1% of GDP

It's difficult to precisely quantify the impacts of hard Brexit on the Slovak economy, as some of the loss in trade could be offset by trade with other EU countries and the European Commission's remedial measures could partially cushion the worst effects, Slovenska Sporitelna macro-analyst Katarina Muchova said at a meeting with media on Thursday. Unquestionably, hard Brexit is poised to scrunch down the Slovak GDP, with the Slovak Central Bank estimating the cumulative GDP downtick somewhere between 0.7 and 1.1 percent by 2023 - mostly due to reduced foreign trade.