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Central bank and Finance Ministry expect worse contraction in Slovakia’s GDP

The Slovak Statistics Office is overly optimistic, said both Finance Minister Ján Počiatek and the governor of Slovakia’s central bank (NBS), Ivan Šramko, on Wednesday, June 3, in reaction to the Statistics Office’s projected 2009 contraction of 3.5 percent in the country’s GDP, the SITA newswire wrote.

The Slovak Statistics Office is overly optimistic, said both Finance Minister Ján Počiatek and the governor of Slovakia’s central bank (NBS), Ivan Šramko, on Wednesday, June 3, in reaction to the Statistics Office’s projected 2009 contraction of 3.5 percent in the country’s GDP, the SITA newswire wrote.

At the present time the ministry and the NBS are working with figures that are much more positive but will soon have to be revised downward, SITA wrote.

The NBS governor said negative 3.5 percent was a bit optimistic but he added that the Statistics Office has its own methodologies it uses to evaluate the economy. In its latest prognosis, the central bank projected a 2.4 percent contraction of the Slovak economy but its updated version is expected to lay out worse figures than those of the Statistics Office. SITA

Compiled by Zuzana Vilikovská from press reports
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