Spectator on facebook

Spectator on facebook

Research and markets: Slovak economy to shrink by 0.9% in 2009

Slovakia's economy is heading for a contraction of 0.9 percent this year, claims Irish market-research consultancy Research and Markets, whose economic forecast for the country in 2009 is still considerably more upbeat than that of the Slovak central bank (NBS).

Slovakia's economy is heading for a contraction of 0.9 percent this year, claims Irish market-research consultancy Research and Markets, whose economic forecast for the country in 2009 is still considerably more upbeat than that of the Slovak central bank (NBS).

“We don't believe that Slovakia will avoid a recession and predict that the country's gross domestic product will fall by a real 0.9 percent in 2009,” Research and Markets says in its report on the Slovak banking sector in the first quarter of 2009.

The latest NBS forecast published two weeks ago forecast that Slovakia’s GDP would shrink by 2.4 percent in 2009. According to the Irish company, a reduction in foreign demand and falling consumer confidence will have a major impact on exports and household consumption. Research and Markets expects the Slovak economy to recover next year, with GDP growth of 2 percent. 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.

Top stories

Preparation of young journalists lags

Editors and students complain about the lack of practical training at journalism schools and missing links with the realities of the media market.

International students travel to attend world leading universities. So they did in the past.

Raslavice village creates jobs; constructs wellness centre

By using eurofunds and state aid new Mayor of Raslavice Marek Rakoš thus created some 80 jobs in two years.

Fico: We are ready to discuss the 13th salary

The prime minister also presented reasons why Slovakia should be in the EU core.

PM Robert Fico

Meucci: Italy is not going through a catastrophe

Gabriele Meucci has been serving as the Italian Ambassador to Slovakia since January this year. He says that Slovakia is a haven for Italian investors but recently also for Italians coming here to work.

Italian Ambassador to Slovakia Gabriele Meucci