NBS prognosis: Slovak economy to shrink by 10.3 percent this year

The Slovak economy should contract by 10.3 percent this year, according to the latest medium-term prognosis released by Slovakia's central bank (NBS) on Wednesday. NBS thereby worsened its GDP development estimate from the previous quarter by 1 percentage point. The central bank expects an economic recovery to come next year, with GDP going up by 8.4 percent. In 2022, GDP should grow by 4.5 percent.