ECONOMIC BRIEFS

NBS wants to change GDP

The National Bank of Slovakia's (NBS) Bank Council approved its Monetary Development report for 1996 and an update of its 1997 Monetary Program, central bank officials announced on May 19. In the report, the NBS said that Slovakia's GDP structure is very unfavorable. Justifying its claim, the central bank wrote that the high share and growth in government spending (also in the area of investments) as well as its support of private consumption by wage growth, which exceeds the growth in labor productivity are combining to stimulate the nation's trade deficit.

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Illustrative stock photo