Spectator on facebook

Spectator on facebook

BUSINESS IN SHORT

GDP rose by 3.3 percent in Q4 2011

THE SLOVAK economy grew by 3.3 percent year-on-year in the final quarter of 2011, although the pace of growth slowed compared to last year, when final-quarter growth was 4.2 percent, according to data released by Slovakia’s Statistics Office. Compared to the third quarter of 2011, the country’s GDP, net of seasonal influences, grew by 0.9 percentage points, the SITA newswire reported.

THE SLOVAK economy grew by 3.3 percent year-on-year in the final quarter of 2011, although the pace of growth slowed compared to last year, when final-quarter growth was 4.2 percent, according to data released by Slovakia’s Statistics Office. Compared to the third quarter of 2011, the country’s GDP, net of seasonal influences, grew by 0.9 percentage points, the SITA newswire reported.

František Bernadič, the general director of the office’s Macroeconomic Statistics Section said that GDP growth in the final quarter of 2011 was surprisingly high. “I think all analysts predicted a lower figure,” he stated, as quoted by SITA.

GDP generated in Slovakia during the last three months of 2011 amounted to €17.756 billion. Net taxes contributed the most to bolstering economic activity because the state collected nearly €174 million in value added tax (VAT) from public-private partnership (PPP) projects in Q4 2011.

Exports grew by 7.5 percent while imports dropped by 1 percent. Net exports of cars, electronics, motor fuels and lubricants remained the key sources of Slovakia’s GDP growth, Bernadič reported.
The Statistics Office has predicted that GDP growth in 2012 will fall to 1.1 percent, SITA wrote.

Top stories

The Nordic walker with the best technique in the world is Slovak Photo

For Lucia Okoličányová, Nordic walking has become her love of life and philosophy

Lucia Okoličányová

Planes will steal the sky above Dubová

Visitors should expect a colourful programme full of acrobatic demonstrations and tourist flights at the airport in Dubová, close to Bratislava.

Sulík: Kiska's party would only further break the centre right

Fico's star is falling and he could still save himself now for another election term, says opposition SaS leader Richard Sulík about who would benefit from early elections.

Richard Sulik

Revolution in personal data is coming

Are the companies ready for GDPR?

Illustrative stock photo