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Bank analysts predict better Slovak GDP growth, with 3.6 percent expected in 2011

Bank analysts’ economic growth forecasts for 2011 are more optimistic than they were at the end of 2010. In a regular survey carried out by the National Bank of Slovakia (NBS), the analysts, on average, projected Slovakia’s economic growth at 3.6 percent, up slightly by 0.1 percentage point from December's estimates, the SITA newswire reported.

Bank analysts’ economic growth forecasts for 2011 are more optimistic than they were at the end of 2010. In a regular survey carried out by the National Bank of Slovakia (NBS), the analysts, on average, projected Slovakia’s economic growth at 3.6 percent, up slightly by 0.1 percentage point from December's estimates, the SITA newswire reported.

The bank analysts also revised their anticipated inflation rates modestly upward for 2011 and they project inflation, as measured by the Harmonized Index of Consumer Prices, at 3.7 percent. In the last month of 2010, the analysts had projected the inflation rate at 3.6 percent.

The European Bank for Reconstruction and Development (EBRD) has also increased its estimate of Slovakia’s GDP growth for 2011. Based on the latest release from EBRD the Slovak economy is expected to grow 3.7 percent in 2011 compared to the growth rate of 3.5 percent predicted last October.

The prognoses offered by the banks and the EBRD are more optimistic than the estimates made by the NBS and the Finance Ministry. The latest official forecasts published by the central bank in December 2010 expect 3-percent GDP growth for this year. In its prognosis from September 2010, the Finance Ministry projected Slovakia's GDP growth at 3.3 percent, SITA wrote.

Source: SITA

Compiled by Michaela Terenzani from press reports
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