Stats: Slovak Economy Grew by Estimated 2 percent in 2024

Bratislava, February 14 (TASR) - Slovakia's GDP went up by 2 percent in 2024, according to a preliminary estimate released by the Statistics Office on Friday. In 4Q24, GDP in fixed prices saw a year-on-year increase of 1.8 percent. "The Slovak economy preserved both its y-o-y and its quarter-on-quarter growth at the end of 2024. The pace of growth was higher than in the previous quarter," stated the Statistics Office. After seasonal adjustments, GDP growth stood at 1.7 percent y-o-y and recorded an increase of 0.5 percent when compared to the previous quarter. In 4Q24, Slovak GDP in current prices amounted to a nominal value of €33.9 billion, which equals €26.9 billion in fixed prices and y-o-y growth of €468.5 million. GDP growth in fixed prices in 4Q24 was fueled mostly by domestic demand, especially household consumption and public administration consumption. Conversely, growth was dampened by a drop in investment activities. Overall employment reached almost 2.439 million people and saw a y-o-y decrease of 0.2 percent. After seasonal adjustments, the number of employees went down by 0.2 percent y-o-y and remained the same in q-o-q terms. mf/df