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Slovakia’s GDP to slump by 3.5% in 2009 predicts Statistics Office

The Slovak economy will record a slump of 3.5 percent year-on-year in 2009, according to an updated prognosis released by the Slovak Statistics Office on Sptember 2, the TASR newswire reported.

The Slovak economy will record a slump of 3.5 percent year-on-year in 2009, according to an updated prognosis released by the Slovak Statistics Office on Sptember 2, the TASR newswire reported.

This is the same assessment made by the Statistics Office three months ago and the Institute of Informatics and Statistics (Infostat) has forecast the same figure. According to the Statistics Office, employment in Slovakia should fall by 2.5 percent y-o-y in 2009, while the unemployment rate will rise to 11.8 percent. Infostat also expects employment to drop by 2.5 percent y-o-y, but predicts that the unemployment rate will reach 11.7 percent at the end of 2009.

The two institutions also concur in their assessments of developments in the average nominal salary, which should increase by over 3 percent on a yearly basis, TASR wrote. TASR

Compiled by Zuzana Vilikovská from press reports
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