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Finance Ministry cuts estimate for Slovakia's 2012 GDP to 1.1 percent

The Finance Ministry's Financial Policy Institute (IFP) cut its prognosis for growth in the Slovak economy in 2012 from 1.7 percent to 1.1 percent, the TASR newswire reported on February 6. "Obviously, a great deal of uncertainty in the external environment persists. According to IFP, the risks in this prognosis are well balanced unlike in previous predictions in which negative risk factors prevailed," said ministry spokesman Martin Jaroš to TASR.

The Finance Ministry's Financial Policy Institute (IFP) cut its prognosis for growth in the Slovak economy in 2012 from 1.7 percent to 1.1 percent, the TASR newswire reported on February 6.

"Obviously, a great deal of uncertainty in the external environment persists. According to IFP, the risks in this prognosis are well balanced unlike in previous predictions in which negative risk factors prevailed," said ministry spokesman Martin Jaroš to TASR.

Growth should increase to 2.7 percent in 2013 and to 3.6 percent and 3.7 percent in 2014 and 2015, respectively, according to the IFP. The latest forecast will be discussed by a ministry committee on February 7. The IFP also predicted that growth in real wages will be 0.6 percent this year, primarily thanks to a lower inflation rate and to higher salaries in the health-care sector.

Source: TASR

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

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