Spectator on facebook

Spectator on facebook

ECONOMIC BRIEFS

Deutsch Bank AG comments on Slovakia

According to an evaluation by the German Deutsch Bank AG on the Slovak economy, the preliminary results for 1996 indicate continued economic growth for the third straight year in the country. The export of goods and services in the first three quarters of 1996 declined 3.9 percent, however, that was the result of decreased demand for raw materials and semi-finished products by EU countries - Slovakia's main trade partners.

Although an economic rule says that a significantly growing economy that trades with economies with slower growth automatically runs a trade deficit, Slovak exports also have a structural handicap.

The most important export commodities include iron and steel, which now face declining demand on the world market. Deutsch Bank does not see much room for improving the situation, and it expects the Slovak trade deficit to reach $2 billion (60 billion Sk) and GDP growth of 5.5 percent for 1997.

The bank believes that an extensive fiscal policy is not the solution for the current situation, since the growing fiscal deficit could stimulate growth in imports even more.

Top stories

Crematorium in Bratislava is an architectural revelation Photo

Those who have experienced farewells in other crematoria know what makes it special. Now the best work by the architect Ferdinand Milučký is getting a monograph

Crematorium in Bratislava by architect Ferdinand Milučký

What kind of expectations do some Slovaks have for world leaders?

Among EU member states, opinions of the United States declined in all but two — Poland (which makes some sense) and Slovakia (which does not).

Donald Trump

Crates and boxes. Slovaks discover new ways of grocery shopping

Farmer’s boxes are gaining customers in Slovakia as people slowly become more conscious about quality and the origin of the food they eat.

Foreigners: Top 10 events in Bratislava Video

Tips for the top 10 events in the capital between January 19 and January 28, plus regular services in different languages, training, temporary exhibitions and highlights of the year.

Scandi 4