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
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.

Get daily Slovak news directly to your inbox

Top stories

The big testing: When and where to show up, and what if I don't want to? (FAQ)

Here is what we know about the practicalities of the nationwide testing so far. Testing also applies to foreigners and diplomats in Slovakia.

Pilot testing in Bardejov

The big test is upon us. What are we to do?

For a foreigner living in Slovakia, there is yet another concern.

Testing is impossible to carry out as planned, president says

President Zuzana Čaputová asked the government to reconsider measures for people who do not get tested, many will not get a chance.

President Zuzana Čaputová met with the representatives of the armed forces.