Spectator on facebook

Spectator on facebook

BUSINESS IN SHORT

Slovakia should cope best with crisis

IN ITS current macroeconomic prognosis, the Slovak Finance Ministry’s Institute for Financial Policy (IFP) predicts that in spite of a slowdown in economic growth due to the global financial crisis, Slovakia’s GDP will grow at the highest rate in the European Union. The institute explains that one of the reasons for this is that the financial crisis will hit other countries harder than Slovakia, the SITA newswire wrote.

IN ITS current macroeconomic prognosis, the Slovak Finance Ministry’s Institute for Financial Policy (IFP) predicts that in spite of a slowdown in economic growth due to the global financial crisis, Slovakia’s GDP will grow at the highest rate in the European Union. The institute explains that one of the reasons for this is that the financial crisis will hit other countries harder than Slovakia, the SITA newswire wrote.

According to the Finance Ministry's estimates, the Slovak economy should grow by 4.6 percent next year. In later years, GDP growth should accelerate again. In 2010, it predicts, GDP growth should be 5.3 percent, and 6.1 percent in 2011, as a result of a revival in the global economy.



The initial slowdown in GDP growth will be due to slower growth in countries where Slovakia's main trading partners. This will result in lower demand for Slovak exports and secondary effects such as lower employment, consumption and investment growth, said the IFP.

The ministry's inflation estimates remain unchanged.


Top stories

My five-year-old daughter will almost certainly encounter a Weinstein too

It’s not that I thought sexually harassing women was okay, it’s more that I accepted that was just part of how things worked. Unfortunate, yes, but also standard.

Harvey Weinstein

Socialism elections were parody of free vote

After the revolution in 1989 the number of people participating in elections fell from 99 percent to around 60 percent.

Elections during socialism regime.

Foreigners: Top 10 events in Bratislava Video

Tips for the top 10 events in the capital between November 17 and November 26, plus regular services in different languages, training, temporary exhibitions and highlights of the year.

Lúčnica

Top 3 stories from Last Week in Slovakia Video

Chinese could produce e-cars in Slovakia - PM Robert Fico does not see election defeat - Poliačik leaves the strongest opposition party

PM Robert Fico