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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.

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