Statistics Office estimates Slovakia’s GDP grew by 4.6 percent in 1Q10

According to a flash estimate published by the Statistics Office on Wednesday, May 12, the Slovak economy grew by 4.6 percent year-on-year in the first quarter of this year. This is the first registered growth in Slovak GDP since 4Q08.

According to a flash estimate published by the Statistics Office on Wednesday, May 12, the Slovak economy grew by 4.6 percent year-on-year in the first quarter of this year. This is the first registered growth in Slovak GDP since 4Q08.

The Slovak economy registered a significant drop in production in 2009, caused by a lack of foreign demand due to the global economic crisis. In 2009, it contracted by 4.7 percent, after growth of 6.2 percent in 2008.

Official prognoses for 2010 predict a revival in the Slovak economy, which could place it among the fastest growing in the European Union this year, the TASR newswire wrote. According to a Finance Ministry prediction, GDP will grow by 2.8 percent in 2010; the central bank (NBS) is even more optimistic - expecting 3.2-percent growth.

Slovakia's gross domestic product (GDP) reached €15.053 billion in the first three months of 2010. In a year-on-year comparison, GDP increased by 4.6 percent in fixed prices and by 2.7 percent in current prices. The Statistics Office will release figures based on further available data on June 4, 2010.

Source: 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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