Spectator on facebook

Spectator on facebook

Slovakia’s third quarter GDP growth at 9.8 percent

THE MASSIVE 9.8 percent GDP growth in Slovakia in the third quarter of 2006 as reported by the national Statistical Office was beyond all the expectations of analysts.

Slovakia’s first and second quarter real GDP growth came in at a robust 6.7 percent each but the 9.8 percent growth in third quarter came as a major surprise, even to the most optimistic economists.

Vladimír Vaňo, an analyst with Trend Analyses, told SITA that the launch of production in several plants built by large investors was behind the massive economic growth.

The Statistical Office itself stated that the high GDP growth dynamics were driven by the growth in added value in Slovak industry.

Unlike in the 1990s, however, there are for the moment no fears of the economy overheating.

Vaňo says that Slovakia is now harvesting the fruits of eight years of the pro-reform government that made the local business environment attractive to foreign investors.

VÚB bank analyst Martin Lenko thinks that the latest GDP figures unambiguously confirm Slovakia's role as a Central European leader with a dynamically growing economy whose expansion can be compared with such booming economies as the Chinese or those of the Baltic states.

Top stories

Night life in Bratislava will not end

Councillors for the Old Town adopt new opening hours for pubs, night clubs and restaurants.

Cvernovka's creative talents celebrate first open day at new premises Photo

Bratislava's art and design ateliers from the old yarn-making factory open their doors on May Day.

New premises for Cvernovka

How social networks can earn you a ticket to Germany

Can a status on a social network change someone’s life? Yes, if you write humorous stories about a fictive German ambassador.

Assaf Alassaf (r) talked about his life and his book in Bratislava

New investor to create 500 jobs in Nitra

A company following the Jaguar Land Rover carmaker to Nitra plans to create 500 new jobs and invest €17 million.

Tha Jaguar Land Rover draws also other investors to Nitra.