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OECD expects 5 percent contraction in Slovakia’s GDP this year

The Organisation for Economic Cooperation and Development (OECD), which groups the world’s main industrialised economies, expects Slovakia's gross domestic product (GDP) to contract by 5 percent this year.

The Organisation for Economic Cooperation and Development (OECD), which groups the world’s main industrialised economies, expects Slovakia's gross domestic product (GDP) to contract by 5 percent this year.

The information comes as part of the latest OECD economic outlook, published on Wednesday, June 24. Its GDP prognosis lies between the National Bank of Slovakia (NBS) forecast that GDP will contract by 4.6 percent and the more conservative Finance Ministry estimate of a 6.2 percent contraction. Nevertheless, the OECD expects a recovery to begin as early as 2010, when it predicts that Slovakia’s GDP will grow again, by 3.1 percent, the SITA newswire wrote. SITA

Compiled by Zuzana Vilikovská from press reports
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