Slovakia's GDP should grow by 3.3 percent year-on-year in 2017, before accelerating to 4.2 percent in 2018 and 4.4 percent in 2019, derived from the latest prognosis of the Finance Ministry of Slovkia released on Monday.
"Slovak economy is doing well this year. It's one of the highest growth figures ever. Meanwhile, the figures for 2018 and 2019 will exceed 4 percent. Mainly domestic demand and households are pulling up this growth," announced Slovak Finance Minister Peter Kazimir at a press conference.
The employment rate is expected to increase by 1.8 percent, with more than 40,000 new jobs due to emerge this year alone.
The unemployment rate for 2017 should stand at 8.2 percent, and it should further fall to 7.5 percent in 2018 and 6.9 percent in 2019.
At the same time inflation is forecast to be at 1.3 percent for 2017, 1.7 percent in 2018 and 1.9 percent in 2019.
If the country's growth exceeds 4 percent in the next two years, Slovakia would become the leader in the Visegrad Four (the Czech Republic, Hungary, Poland and Slovakia), being partly aided by the planned launch of production at Jaguar Land Rover in Nitra.
"The economic growth structure is very sound and balanced," said Kazimir, adding that potential risks for Slovakia are mostly Brexit and possible problems in the banking sector in Italy.
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