Economic activity is forecast to accelerate further in 2018, despite the weak start to the year. Exports are set to rebound sharply on the back of strong global demand. In addition, the gradual pick up in private consumption should somewhat offset the slowdown in investment growth expected in 2019. Unemployment is set to fall substantially and the budget deficit is forecast to remain under 3% of GDP.

Indicators 2016 2017 2018 2019
GDP growth (%, yoy) 1,2 1,8 2,0 1,8
Inflation (%, yoy) 0,3 1,2 1,7 1,4
Unemployment (%) 10,1 9,4 8,9 8,3
Public budget balance (% of GDP) -3,4 -2,6 -2,3 -2,8
Gross public debt (% of GDP) 96,6 97,0 96,4 96,0
Current account balance (% of GDP) -2,6 -3,0 -2,9 -2,7

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