Current Economic News

With the money received from the European Recovery Plan, Slovakia will invest in the green economy, health, education, science, and research, as well as public administration and digitization. Most European funding will be invested in single-family housing rehabilitation works and will also go towards decarbonization of industry, climate change adaptation projects, biodiversity protection, and national park reform.

After a year of pandemic, telework has increased in all European countries, and as expected in Slovakia, it has also increased. The experience of employees and employers with work from home judging positively. And telework rates are likely to remain significantly higher once the emergency is over. The economic and occupational structure, broadband Internet access, and the possibility of using a personal computer played a decisive role in the significant increase in telework in sectors such as information. And communication technologies, professional services, finance, insurance, and public administration.

The recovery of the Slovak economy will depend to a large extent on the conditions of its particular pillar, the automotive industry. The main obstacle to production would be the shortage of materials and equipment that motor companies use due to mobility restrictions caused by the Covid-19.

In 2021, the growth of the Slovak economy is expecting to be the highest in the EU, along with Malta. In the coming months, with the gradual relaxation of containment measures, a recovery in economic activity is expected, which will still be moderate in the second quarter. But stronger in the third quarter, driven by private consumption and favored by increased world trade.