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Finance Ministry downgrades GDP growth forecast to 2.4 percent

The Finance Ministry has adjusted its estimate for Slovakia's GDP growth in 2009 downwards, to 2.4 percent, Finance Minister Ján Počiatek said on February 4.

The Finance Ministry has adjusted its estimate for Slovakia's GDP growth in 2009 downwards, to 2.4 percent, Finance Minister Ján Počiatek said on February 4.

The previous estimate, on which the budget for 2009 was based, was 4.6 percent. The change follows similar downwards revisions by the European Commission and Slovakia’s central bank, the National Bank of Slovakia (NBS), to 2.7 percent and 2.1 percent respectively.

"The recently updated estimate follows from the updated figures from the European Union and from around the world," said Počiatek. "It's impossible to say whether these are optimistic or pessimistic," said Počiatek, adding that as Slovakia has a very open economy, the change in foreign demand will influence it significantly. TASR

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

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