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Finance Ministry expects Slovakia’s GDP to fall by 6.4 percent in 2009

Slovakia's Finance Ministry expects that the year-on-year fall of GDP will be 6.4 percent in 2009, the ministry State Secretary František Palko told TASR on June 15.

Slovakia's Finance Ministry expects that the year-on-year fall of GDP will be 6.4 percent in 2009, the ministry State Secretary František Palko told TASR on June 15.

The long-awaited new estimation of Slovakia's GDP was released at the session of the committee for macroeconomic prognoses at the Finance Ministry on June 15. Next Monday, on June 22, the committee for tax and contribution prognoses will hold its session, and on the basis of discussion within that committee it should be clear what the expected significant drop in Slovakia's economy will mean for tax and contribution revenues of the state.

“We estimate that GDP will decrease by 6.4 percent this year, which, of course, will also affect further figures of the macroeconomic environment, including tax and contribution revenues. After the prognoses in the area of tax and contribution revenues are completed, we will propose particular changes in parameters of the budget for 2009,” said Palko, as quoted by TASR. TASR

Compiled by Zuzana Vilikovská from press reports
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