Spectator on facebook

Spectator on facebook

NBS predicts slower economic growth for Slovakia

The National Bank of Slovakia (NBS), Slovakia’s central bank, has heavily revised its prediction for the country’s economic growth next year. While the previous prediction foresaw a rise of 3.8 percent, the latest prognosis predicts growth of 2.3 percent, the SITA newswire reported.

The National Bank of Slovakia (NBS), Slovakia’s central bank, has heavily revised its prediction for the country’s economic growth next year. While the previous prediction foresaw a rise of 3.8 percent, the latest prognosis predicts growth of 2.3 percent, the SITA newswire reported.

“The deceleration of economic growth will continue in 2012, mostly due to declining foreign demand,” said NBS governor Jozef Makúch, as quoted by the TASR newswire, adding that lower demand is likely to affect the country’s economy mostly in the first and second quarters of next year.

The latest prediction has confirmed the expectations of bank analysts as well as other financial institutions which had stated that the country could not expect to see continued strong economic growth given the current situation on financial markets, according to SITA.

Growth is estimated to increase slightly in 2013, provided that the financial crisis does not deepen. However, the NBS is now predicting only 3.5-percent growth in 2013 instead of its previous 5.1 percent forecast, TASR wrote.

Source: SITA, TASR

Compiled by Radka Minarechová from press reports
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.

The processing of personal data is subject to our Privacy Policy and the Cookie Policy. Before submitting your e-mail address, please make sure to acquaint yourself with these documents.

Top stories

Biker gang complex in Dolná Krupá raises questions

What does the Russian bikers’ gang Night Wolves do in the Slovak village of Dolná Krupá?

The complex in Dolná Krupá

Blog: How business mentoring can change our schools for the better

Business mentoring benefits both involved parties and has the potential to change Slovak schools for the better.

Junior Achievement Slovakia organises various events, including a fair of student companies.

Here is how I measure the speed of integration

Babiš proposes to end war, poverty and religious extremism with a snap of our fingers. Why hasn’t anybody else thought of this?

Andrej Babiš, Czech prime minister

How rock music helped bring down the totalitarian regime Video

A new film shows that Rock & Roll, forbidden in the Soviet Union, helped to end the Cold War.

Illustrative Stock Photo