Analyst: Slovak economy recovering fastest among V4 countries

Slovakia's economic situation can improve in 2010, even though it has experienced a deep fall in 2009, Volksbank chief analyst Vladimír Vaňo told newswire TASR.

Slovakia's economic situation can improve in 2010, even though it has experienced a deep fall in 2009, Volksbank chief analyst Vladimír Vaňo told newswire TASR.

"For the second quarter in a row, Slovakia has defended its position as an economy with one of the fastest quarter-on-quarter growth, 1.6 percent in the third quarter compared to 1.1 percent in the second,” Vaňo said. “It's encouraging confirmation that economic activity bottomed out in the first quarter of 2009 and is now recovering more quickly than economies of the neighbours.”

According to the economist, such a development is not common in the still fragile business environment in Europe, as various countries such as Hungary, Romania, Greece, Spain and Estonia are still only heading for the bottom of their economic decline, TASR wrote.

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