The decline of the Slovak economy in the crisis year of 2009 was deeper than the Statistics Office originally reported and it has revised its data on GDP for last year, now saying that last year's decline in GDP was 4.8 percent, the SITA newswire reported.
Moreover, the Statistics Office revised down the economic growth reported for 2008 from the original 6.2 percent to 5.8 percent. Following years of high economic growth the country experienced a sharp drop in GDP last year, SITA wrote. Due to impacts of the global economic crisis and a rapid drop in foreign demand the country's economy showed a record y-o-y fall in GDP in all four quarters of 2009.
GDP started growing in 2010 and according to the most recent statistical data Slovakia's economy posted 4.7-percent growth in the first quarter and grew 4.2 percent in the second quarter. The flash estimate of Q3 results are for 3.7-percent GDP growth.
Compiled by Zuzana Vilikovská from press reports
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.
16. Nov 2010 at 14:00