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World Bank: Slovakia’s GDP growth 5.1 percent this year

ACCORDING to estimates from the World Bank, the Slovak economy will reach a GDP growth rate of 5.1 percent this year, and remain unchanged over the next year, the SITA news agency reported.

The World Bank's opinion matches that of the Slovak Finance Ministry's estimates. The ministry updated its prognosis for GDP growth in June from the previous 4.9 percent to 5.1 percent.

According to a World Bank quarterly report monitoring Central European and Baltic countries, the inflation rate in Slovakia should reach 2.8 percent in 2005. In 2006, inflation should slow to 2.5 percent.

The public finance deficit is predicted to reach 3.4 percent of GDP this year. The current account deficit should reach 4.7 percent of GDP in 2005 and decrease to 4.4 percent next year.

"After an initial rise in investments, exports, growth of production, and prices in the first half of the year 2005, the economic performance of the EU8 states, including Slovakia and the Baltic countries has slowed down," said Thomas Blatt Laursen, chief economist for Europe and Asia for the World Bank.

The EU8 states include Slovakia, the Czech Republic, Hungary, Poland, Estonia, Latvia, Lithuania, and Slovenia.

Compiled by Martina Jurinová from press reports
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