HEAD OF ASSET MANAGEMENT
Score prediction: SWEDEN 2 – SLOVAKIA 0
Football is without a doubt the biggest sport in the world and the Euro championship one of its pinnacle moments.
To us Europeans, this tournament is somewhat symbolic as it is the first major international sports event since the pandemic brought about lockdowns and triggered the strongest economic contraction in modern history.
The current third wave is now in retreat in most countries and we are experiencing a gradual reopening as vaccine programmes are rolled out.
Plenty of disruption has been created by the lockdowns and new business models, such as online medicine, have experienced a boost.
In general, the recovery in Sweden is taking off with flying colours. The economic tendency indicator during May was at is highest level in its 25-year history.
Swedish stock markets are currently strong and the IPO market is flourishing due to strong sentiment and an elevated risk appetite.
HEAD OF INVESTMENT RESEARCH
A&J WEALTH MANAGEMENT
Score prediction: SWEDEN 1 – SLOVAKIA 1
Slovakia is one of the most open economies in the European Union – the export of goods and services represents 93% of Slovakian GDP. Therefore once the World starts re-opening again and getting back to “normal”, Slovakia’s economy will return to its previous growth path of one of the fastest-growing economies within the European Union.
The European Commission forecasts Slovakian growth at 4.7% in 2021, followed by a 4.3% increase in 2022.
According to Focus Economics Consensus Forecast, Slovak industrial production is projected to increase by 10.4% in 2021, followed by a growth of 4.9% in 2022.
The unemployment rate increased by 3% due to the covid-19 crisis in 2020. The labour market is not expected to improve until 2022, when the unemployment rate is forecasted to drop to 7%.
I hope that the Slovakian government will use capital from the European Recovery Fund to improve the digitalisation of society, upgrade transportation infrastructure, further incentivise R&D investments and support additional investments into the green economy.