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Slovak economy to perform better than expected this year
1 Oct 2013 Flash News
THE SLOVAK economy will do considerably better than previous forecasts predicted. The National Bank of Slovakia (NBS) increased its estimate of GDP growth for 2013.
The recent medium-term forecast expects Slovakia’s GDP to grow 0.9 percent year-on-year, compared with the previous forecast that counted with 0.6-percent growth, the TASR newswire reported.
In 2014, the NBS expects the Slovak economy to grow by 2.1 percent and in 2015 by 3.2 percent.
“Compared to the previous forecast there has been a re-evaluation towards slightly lower growth due to the consolidation of public finances and lower foreign demand,” NBS deputy governor Ján Tóth said, as quoted by TASR.
The NBS forecasts that the employment rate will fall by 1 percent by the end of 2013, while inflation is expected to remain relatively low, which could help revive domestic consumption, TASR wrote.
Compiled by Michaela Terenzani from press reports
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