Slovakia cbank sees sharp GDP contraction in 2020

Slovakia's GDP is likely to fall by 5.8-13.5 percent this year, with a decline of around 9 percent being the most likely scenario, according to a forecast by Slovakia's central bank (NBS), which has adjusted downwards its March prognosis based on new information related to the coronavirus crisis. The budget deficit will range between 6.9-10.3 percent of GDP, while the state debt will reach 57-64 percent of GDP. As many as 46,000-100,000 jobs could be lost due to such a recession, it said.