Spectator on facebook

Spectator on facebook

European Commission: Slovak economy will grow fast

THE EUROPEAN Commission expects economic growth of around five percent in Slovakia in 2005 and 2006, the Pravda daily reported.

Prospects are not as favourable for the 12 countries using the common currency - the euro. The Commission now estimates that economic growth in the Eurozone will be 1.6 percent this year, down from the 2 percent originally expected.

Slovakia's economic growth should continue to be driven by household consumption, which is positively influenced by real income growth and a decrease in inflation.

In 2004, household expenditures rose by 7.5 percent. This year's growth in household consumption is expected to slow to 4 percent, and in 2006, it is expected to be 3 percent.

The European Commission expects Slovakia's foreign trade balance to remain negative.

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

Top stories

The art of baking Bratislava rolls Photo

Vienna has Sacher torte, Budapest has Somlói galuska and Bratislava has rolls

Ján Šimunek loves Bratislava rolls, especially those filled with poppy seed.

Parties only protect their market share

Rent seeking behavior and a code of loyalty are not the ways to operate a successful democratic political party.

Interior Minister Robert Kaliňák

Fifth ice cathedral open to visitors Photo

The ice cathedral in the High Tatras will be open during the whole winter season.

Slovak wines in museum of world wines Photo

Slovak winemakers gifted 336 bottles to the museum.