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MARKET REPORT Q3 2021

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During the second quarter of the year Slovakia’s national economy grew by 9.6% supported by both domestic and foreign demand.

MF forecasts were revised downwards to expect an annual growth of 3.7% in 2021 (compared to the previous forecast of 4.6%). The revision was mainly attributed to more moderate economic recovery during the third wave of pandemic and shortage of raw materials further slowing down the growth. MF expects overall decline in household consumption, whilst Industrial sector, on the other hand, is forecasted to stay resilient. Next year’s economic growth (4.2% forecast for 2022) is expected to be led mainly by EU Recovery Plan investments, corporate investments and revived household spending.

In Q2 2021 unemployment level decreased to 7.8% with the average monthly wage at € 1,202. Labour market is expected to keep improving in future Inflation rate reached 3.8% in August 2021 pushed by economic recovery, high energy prices and lack of raw materials. Increases in prices are expected to persist in the coming months, with the indicator peaking at 5 at the beginning of 2022.


MARKET REPORT Q3 2021

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Tamila Nussupbekova

Associate | Slovakia

Bratislava

Tamila started her tenure in Colliers International as a member of Research and Advisory team in Almaty, Kazakhstan in September 2014. During the two years spend with the team, she  participated in a number of projects in both public and private sectors ranging from stragey formulation, to market research, concept development, green consultancy and valuation.

In 2016 Tamila  moved to Bratislava, where she  continued her  Colliers journey. She is currently holding a position of a Researcher, responsible for creating and enhancing market intelligence of Colliers  clients, colleagues and community members, generating both internal knowledge flows, and acting as a consultant for external projects.

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