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Slovakia’s economic growth strongest of Visegrad 4

FOR the third year in a row, Slovakia's economic growth was the strongest of all the Visegrad 4 (V4) states.

The country's gross domestic product grew by 5.5 percent in 2004, while neighbouring Poland recorded 5.4 percent and Hungary and the Czech Republic 4 percent.

According to the Hospodárske noviny business daily, economic growth in Slovaka is the fastest in the last seven years.

The economic growth was supported by a 3.5 percent growth in domestic consumption. The growth was also reflected in higher wages as real wages grew by 2.5 percent in 2004 and the average Slovak wage reached Sk15,825 (€420).

Companies in Slovakia also enjoyed the booming economy. According to the Slovak Statistics Office, non-financial sector companies registered a 24.3 percent profit growth on 2003.

Compiled by Martina Jurinová from press reports
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