BRATISLAVA - The Slovak economy recorded a significant slowdown in annual growth in Q1 2025. According to data released today by the Statistical Office of the Slovak Republic, gross domestic product (GDP) grew by only 0.9 % year-on-year, the lowest growth in two years. In the last quarter of last year, the economy grew at a rate of 1.7 %.
Quarter-on-quarter, the Slovak economy grew by 0.2 % in the first quarter. The statistical office thus confirmed its preliminary estimate from May. The slowdown in growth comes amid an uncertain global economic situation, affected by persistent inflationary pressures, rising interest rates and a slower pace of investment.
According to analysts, the slowdown is due, among other things, to a lower performance of the manufacturing industry, which is a key segment of the Slovak economy, and a decline in demand on the main export markets. Consumer confidence remains weak and wage growth is not enough to compensate for inflation, negatively affecting domestic consumption.
In its latest forecast, the Slovak central bank also warned of a possible risk of a technical recession in the event of a further slowdown in the coming quarters. The government is expected to revise some budget measures and try to boost growth through targeted investment and stimulus packages. From an investor perspective, the Slovak economy remains stable but fragile. Developments in the coming months will be crucial for the future direction of the country's economy
gnews.cz - GH
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