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Slovakia and Czech Republic regional economic leaders

THE SLOVAK economy grew by 6 percent in 2005, the highest rate in the last 10 years. Wages in the country increased by 6.3 percent in real terms to Sk17,274 (€461) per month, while the jobless rate fell from 18.1 to 16.2 percent, according to data from the Slovak Statistics Bureau.

But Central Europe has a second "economic tiger", according to the SME daily. The Czech economy also grew by 6 percent last year, which means that the two formal federal partners have the fastest growing economies among post-communist countries.

Analyst Mário Blaščák from Ľudová banka said that Slovakia's economy grew mainly on the back of rising household consumption and capital formation. The latter increased by 14.1 percent year-on-year and was the fastest growing component in the GDP structure.

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


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