Economic activity is forecast to accelerate sharply in 2017, driven by strong private investment growth and in particular a strong recovery in the housing market. As a result, unemployment rate is set to fall substantially. While the economy is expected to maintain its current momentum in the near future, a slight easing is expected in the medium term, as spare capacities in the economy are reabsorbed.

Indicators 2016 2017 2018 2019
GDP growth (%, yoy) 1,2 1,6 1,7 1,6
Inflation (%, yoy) 0,3 1,1 1,2 1,5
Unemployment (%) 10,1 9,5 9,3 8,9
Public budget balance (% of GDP) -3,4 -2,9 -2,9 -3,0
Gross public debt (% of GDP) 96,5 96,9 96,9 96,9
Current account balance (% of GDP) -2,6 -3,0 -2,8 -2,6

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