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BUSINESS SHORTS

EC's economic prognosis for Slovakia as expected

THE SPRING Economic Prognosis for Slovakia, published on May 7 by the European Commission (EC), is in line with Slovakia's expectations, Finance Minister Ján Počiatek said on May 8, according to the TASR news wire.

Počiatek made the statement following an EU Council for Economic and Financial Affairs (ECOFIN) session in Brussels.

According to the EC's prognosis, Slovakia's economic growth should accelerate from 8.3 percent in 2006 to 8.5 percent in 2007, while the unemployment rate should fall to 12.2 percent.

Referring to the proposal for the EU budget for 2008, which the EC submitted last week, Počiatek said he appreciated that, for the first time, the largest share of expenditures has been set aside for growth and employment, rather than to the traditionally dominant sector of agriculture.

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