Incorrect statistics push down crown

DUE to wrongly assessed 2003 figures on Slovakia's foreign trade, the Slovak crown radically dropped from Sk40.70 to Sk40.91 against the euro.

Statistical data on Slovakia's foreign trade for the last four months of 2003 were incorrect. "The exports were most probably overrated by Sk14 billion (€343.94 million)," chairman of the Slovak Statistics Office Peter Mach told the daily SME.

However, the Statistics Office claims that the revision of Slovak exports for 2003 will not necessarily modify data on Slovakia's GDP growth for first nine months of last year. The extent of the revision should keep within 1.75 percent of the total amount of Slovak exports, the office said.

The original January-November data showed Slovakia's exports growing by 23.6 percent year-on-year to a total of Sk739.9 billion (€18.18 billion).

On January 29, the SME daily reported that last year's foreign trade results were probably boosted by incorrect statistics, citing an anonymous source that claimed that figures indicating the strong growth of exports were exaggerated.

Compiled by Beata Balogová from press reports
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.

Get daily Slovak news directly to your inbox

Top stories

Former state secretary Jankovská has reportedly confessed

Coalition politicians have welcomed the news.

Monika Jankovská

Pass a Slovak language dictation so you can work with foreigners

The draft migration policy proposal is out. Where does a foreigner find the official, certified list of cultural realities and traditions they are supposed to respect?

Some problems with the Foreigners’ Police continue.

News digest: Former state secretary describes the corruption at courts

Schools will definitely not open on Monday. Coronavirus vaccine could be available starting in mid-December. Slovakia joins campaign to fight violence against women.

The Presidential Palace lit in orange, to support the Orange the world! campaign.