OECD Economic Outlook, Volume 2011 Issue 2
The OECD Economic Outlook is the OECD’s twice-yearly analysis of the major economic trends and prospects for the next two years. The Outlook puts forward a consistent set of projections for output, employment, prices, fiscal and current account balances.
Coverage is provided for all OECD member countries as well as for selected non-member countries. This issue includes a general assessment, chapters summarising developments and providing projections for each individual country and an extensive statistical annex.
- Publication Date :
- 28 Nov 2011
- DOI :
- 10.1787/eco_outlook-v2011-2-en
Slovak Republic
- DOI :
- 10.1787/eco_outlook-v2011-2-32-en
After a strong rebound following the crisis, activity is expected to slow in line with weak growth in export markets and a decline in confidence. Due to persistent high unemployment and fiscal consolidation measures, public and private consumption is projected to remain subdued. With the improvement of the global environment and a pick-up in both exports and investment, GDP growth should strengthen from mid-2012 onwards. By damping tax revenues and increasing spending on social benefits, the economic slowdown will temporarily undermine fiscal consolidation plans.