BUSINESS IN SHORT

Finance Ministry updates GDP forecast

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 autumn 2009, the TASR newswire reported.

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 autumn 2009, the TASR newswire reported.

“The changes in the forecast are mainly due to improvements in expectations in 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 outlook 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 on the domestic labour market, whereas risks are balanced in the external environment,” said IFP according to TASR.


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