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Finance Ministry reduces GDP growth estimate for 2012 by 1 percentage point

After releasing a revision of its macroeconomic prognosis on August 26, the Finance Ministry admitted that this slower economic growth will result in revenue shortfall to the state exceeding €200 million.

After releasing a revision of its macroeconomic prognosis on August 26, the Finance Ministry admitted that this slower economic growth will result in revenue shortfall to the state exceeding €200 million.

In the latest document, the authority reduced its GDP growth outlook for next year by 1 percentage point to 3.4 percent, the SITA newswire wrote. Prognoses for the following years were revised downward as well. The GDP growth estimate for 2013 was reduced by 0.5 percentage points and the 2014 prognosis was reduced by 0.3 percentage points to 3.9 percent. The ministry also cut the estimate for this year from the 3.6 percent predicted in June to 3.3 percent.

Source: SITA

Compiled by Zuzana Vilikovská from press reports
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