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IN SHORT BUSINESS

Economy to pass EU average growth soon

ECONOMIC growth in Slovakia should exceed the average economic growth in the European Union by about 1.5 percent between its entry into the EU and 2009, the news wire SITA wrote.

The Slovak Economy Ministry expects that in 2009 the level of the country's economy will reach approximately 56 percent of the current 15-member EU average.

Slovakia's entry into the European Monetary Union should have a positive impact on its economic performance.

The ministry estimated Slovak economic growth at an average of 3.1 percent between 2003 and 2013.

Between the years 2003 and 2006 the average economic growth should be 3.9 percent, while the ministry predicts the average annual economic growth will be 2.6 percent between 2007 and 2013. In 2013, the gross domestic product should increase by 3.6 percent.

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