Spectator on facebook

Spectator on facebook

Central bank revises Slovakia’s financial outlook

The National Bank of Slovakia (NBS) expects Slovakia’s public deficit to reach 3 percent of its GDP. This estimate is a revision of an earlier one, which put the deficit at 1.2 percent of GDP, the news agency SITA wrote.

The reason for the change, according to NBS Vice Governor Elena Kohutikova, is that more dividends than expected were paid abroad.

"Investment demand is faster than we predicted chiefly due to the import of technologies,” Kohutikova told the press. “This is a desirable situation in terms of restructuring of the economy,” she said.

The central bank revised its GDP growth estimate as well. From 3.8 to 4.4 percent, NBS has moved its predictions into the 5 to 5.7 percent range with a median at 5.3 percent. Kohutikova said that GDP growth should continue through the next several quarters.

The NBS also expects Slovakia's trade balance to slightly worsen by the end of the year. Originally, the bank predicted that the trade balance deficit would be at 2.5 percent of GDP by 2005. The revised trade deficit estimate is up to 3 percent.

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

Top stories

In praise of concrete

It was once notorious for its drab tower blocks and urban crime, but Petržalka now epitomises modern Slovakia.

Petržalka is the epitome of communist-era architecture.

Slow down, fashion

Most people are unaware that buying too many clothes too harms the environment.

In shallow waters, experts are expendable

Mihál says that it is Sulík, the man whom his political opponents mocked for having a calculator for a brain, who “is pulling the party out of liberal waters and towards somewhere completely different”.

Richard Sulík is a man of slang.

Blog: Exploring 20th century military sites in Bratislava

It seems to be the fate of military sites and objects in Bratislava that none of them were ever used for the purposes they were built for - cavernas from WWI, bunkers from WWII, nuclear shelters or the anti-aircraft…

One nuclear shelter with a capacity for several hundred people now serves as a music club with suitable name Subclub (formerly U-club).