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.

The processing of personal data is subject to our Privacy Policy and the Cookie Policy. Before submitting your e-mail address, please make sure to acquaint yourself with these documents.

Top stories

Šefčovič will run for president

But he did not confirm whether or not he is Smer’s candidate.

Maroš Šefčovič

‘All his own work’

To preserve their credibility, real academics must call out plagiarism.

Speaker of Parliament Andrej Danko

Biathlete Kuzmina triumphs in the women’s 10km sprint

It is her second World Cup victory this season.

Anastasiya Kuzmina

Slovakia breaks record in car production, but future is electric

This year will be extremely demanding for the car industry in Slovakia.