GDP growth surprises even optimists

THE SLOVAK economy continues to grow faster than those of its neighbours. According to the Statistical Bureau's initial estimate for the fourth quarter of last year, the gross domestic product (GDP) rose by a record 7.5 percent, while the economy grew by 6 percent during the whole of 2005.

Economists expect the growth figures to continue, Hospodárske noviny wrote.

"The influence of foreign investment on the economy will probably be even more dramatic than was expected," said Mário Blaščák, an analyst with Ľudová banka.

Blaščák said that in 2006 the Slovak economy could even grow by 7 percent.

Local and international analysts agree that the Slovak economy is likely to continue to lead the region in its rate of expansion.

Thanks to the GDP figures, employment is also on the rise in Slovakia. The Statistical Bureau estimated that in the fourth quarter of 2005 there were 41,000 more people working in Slovakia than at the end of 2004.

Compiled by Martina Jurinová from press reports
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.

The processing of personal data is subject to our Privacy Policy and the Cookie Policy. Before submitting your e-mail address, please make sure to acquaint yourself with these documents.

Top stories

Government announces a state mourning for the victims of the crash near Nitra

Flags will be raised at half-mast between 8:00 and 20:00.

A black flag was raised in front of the Government's Office.

UPDATED: Road accident near Nitra claims 12 lives

Pellegrini is considering a national mourning on Friday.

All the things that were left overdue

Last week brought a resignation and a half-hearted opposition deal.

Deputy Speaker Martin Glváč (left) and Smer chair Robert Fico (right) held a press conference on October 29, 2019

The alleged driver in the Kuciak murder case may confess his guilt in court

Tomáš Szabó could be the third of five accused to confess their guilt.

The police escorts Tomáš Szabó, the accused in the Kuciak case, to the Specialised Criminal Court in Banská Bystrica, central Slovakia, on September 30, 2018