NBS predicts moderate recession for Slovak economy in 2023
Sep 28, 2022 15:42 Me premium content
Bank analysts expect inflation to continue rising unless further action is taken.
The President of the National Bank of Slovakia (NBS), Peter Kazimir, said in announcing the bank’s latest autumn forecasts for the Slovak economy that there are predictions that he hopes will never come true.
Slovakia is headed for a mild recession. The governor disputed the NBS’s projection that inflation will continue to soar and real wages will fall unless the government takes action. Claims made by Prime Minister Eduardo Hager (OĽaNO) for the Financial Times Article published today. The prime minister said Slovakia’s economy was facing a “collapse” as high electricity prices were “killing the economy”.
Inflation hits new record
NBS Governor Kazimir said: “While we recognize the threat of a year-long temporary decline in the economy, we cannot call it a collapse.
He said the European Union and its member state governments have tools that can mitigate the pessimistic developments, but believe they are not using them quickly and efficiently enough.
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https://spectator.sme.sk/c/23019837/national-bank-expects-a-recession-but-not-a-collapse-in-2023.html NBS predicts moderate recession for Slovak economy in 2023