Spectator on facebook

Spectator on facebook

Crisis has little impact on Slovak economy, says Statistics Office

Slovakia’s Statistics Office says the global financial crisis is not yet having a significant impact on the growth of the economy, the SITA newswire reported.

Slovakia’s Statistics Office says the global financial crisis is not yet having a significant impact on the growth of the economy, the SITA newswire reported.

Despite a gradual slowdown in GDP growth to 7 percent year-on-year in the third quarter of this year, the crisis has not been greatly reflected in GDP growth.

"The third quarter seems not to have been significantly affected by the financial crisis," said the head of the Statistics Office's macroeconomic section František Bernadič. It is very difficult to predict the development of the Slovak economy for the end of this year and next year. Domestic demand will play a significant role in the future, given the falling foreign demand for Slovak products, caused in part by the financial crisis.

Development in the automotive industry and electrical engineering industry will also be important. Growth has slowed gradually: in the first quarter year-on-year GDP growth was 9.3 percent, in the second quarter it fell to 7.9 percent, and the Slovak economy grew at 7 percent in the third quarter. Despite this, the chairwoman of Slovakia's Statistics Office, Ľudmila Benkovičová, said that the economy had maintained its positive development parameters.

She pointed out that Slovakia's GDP growth is above average in comparison with other EU member states. SITA


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

Top stories

Coalition only agrees on how to talk. But what will they talk about?

Budget talks to decide on concrete policies. Danko wants airplanes, Fico wants better pay for nights and weekends.

Danko, Fico, Bugar.

Cloud computing becomes a standard

External servers are now much more secure than local business ones, according to experts.

Slovak firms have their eyes on the cloud.

Slovaks drink less and less

Behind the decline in alcohol consumption is, for example, the abandoning of the habit of drinking at work – typical especially during communism, according to an expert.

Kiska: Even Europe has its aggressive neighbour

President Andrej Kiska addressed UN commenting poverty, instability and climate change.

President Andrej Kiska