Finance Ministry ups forecast for Slovak GDP growth in 2010 to 2.8 percent

The Finance Ministry has revised its previous forecast for growth in the Slovak economy in 2010 to 2.8 percent, up from the 1.9 percent expected in the autumn of 2009, TASR learned on February 10.

The Finance Ministry has revised its previous forecast for growth in the Slovak economy in 2010 to 2.8 percent, up from the 1.9 percent expected in the autumn of 2009, TASR learned on February 10.

“The changes in the prognosis are mainly due to improvements in expectations concerning the external environment, improvements in indicators of economic sentiment and positive results for the third quarter (of 2009) in Slovakia and the eurozone as a whole,” said the ministry’s Financial Policy Institute (IFP).

The current prognosis embraces the influence of highway construction via public-private partnership (PPP) projects, which are expected to have a positive effect on GDP growth. On the other hand, negative developments are expected on the household-demand front. “Negative risks stem primarily from developments in the domestic labour market, whereas risks are balanced in the external environment,” said IFP. 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.

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