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IMF predicts economic slowdown in new Europe

THE NEW European economies, which witnessed strong economic growth last year, will see a slowdown this and next year, the International Monetary Fund (IMF) predicts in its new World Economic Outlook report, the Pravda daily reported.

The region recorded an economic growth of 6.2 percent last year but the IMF predicts this to slow down to 4.5 percent in the coming years.

In Slovakia the economic growth in 2004 was 5.5 percent, powered especially by growing domestic consumption.

In 2005, the IMF predicts Slovakia's economic growth to slow to 4.8 percent.

The IMF also recommends that Slovakia work towards cutting down its budget deficit quickly.

Compiled by Martina Jurinová from press reports
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