Spectator on facebook

Spectator on facebook

BUSINESS SHORTS

Slovak economy grows 9 percent in Q1

THE REVISED estimates of the Slovak Statistics Office show that Slovakia's real GDP growth reached 9 percent in the first quarter of 2007. The Statistics Office revised its flash estimate upwards by 0.1 percentage point. This means that the Slovak economy grew 2.3 percentage points faster in the first quarter of this year than in the same period of 2006, which in financial terms means a GDP of Sk414.6 billion (€12.4 billion) in the first quarter, up 12.4 percent in current prices.

Regarding consumption, GDP growth was influenced by an acceleration of foreign demand to 24.1 percent, while domestic demand grew by 3.9 percent, which was its slowest growth since 2004. Contributing to the slowdown is the lower formation of gross fixed capital by 0.4 percentage points and the slower growth of the final consumption of public administration by 2.4 points. Final consumption of households grew by 6.5 percent, which was the same as last year.

The acceleration of the GDP formation in the first quarter was driven by the growth of added value in transport, posts and telecommunications, and industrial manufacturing.

In 2006, the Slovak GDP grew by 8.3 percent, while this year the central bank expects 8.9 percent growth.

Top stories

Infertility in men is increasing with those in their 40s better off then those in their 20s

Treatment of infertility can cost tens, or even several thousand euros. Only part of the cost is covered by health insurance companies.

To be fertile, a man has to have 15 million sperms per milligram of ejaculate, of which 4 million must be healthy.

Parties only protect their market share

Rent seeking behavior and a code of loyalty are not the ways to operate a successful democratic political party.

Interior Minister Robert Kaliňák

The art of baking Bratislava rolls Photo

Vienna has Sacher torte, Budapest has Somlói galuska and Bratislava has rolls

Ján Šimunek loves Bratislava rolls, especially those filled with poppy seed.

Fifth ice cathedral open to visitors Photo

The ice cathedral in the High Tatras will be open during the whole winter season.