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EBRD slashes its 2012 growth forecast for Slovakia

The European Bank for Reconstruction and Development (EBRD) is forecasting slower economic growth for central and eastern European countries, the SITA newswire reported on Tuesday, October 18. The region, which has strong ties to the eurozone, is now expected to witness a considerable slowdown in economic growth, according to the bank’s revised GDP growth estimates. The most severely affected economies are forecast to be those of Slovakia and Hungary.

The European Bank for Reconstruction and Development (EBRD) is forecasting slower economic growth for central and eastern European countries, the SITA newswire reported on Tuesday, October 18. The region, which has strong ties to the eurozone, is now expected to witness a considerable slowdown in economic growth, according to the bank’s revised GDP growth estimates. The most severely affected economies are forecast to be those of Slovakia and Hungary.

The EBRD predicts that Slovakia’s economy will grow by just 1.1 percent in 2012. In July it was predicting growth in 2012 of 4.1 percent. According to the current prognosis, Slovakia's economy will grow by 3.1 percent this year, down from the 3.7-percent forecast made in July. Hungary’s, predicted growth was reduced to 1.1 percent for this year and to 0.5 percent for next year.

Source: SITA

Compiled by Zuzana Vilikovská from press reports
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