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

EU roaming fees to end on June 15 – in theory

Slovak customers still waiting to find out how mobile operators will implement change.

Archaeologist pieces together early history of what is now western Slovakia Photo

For an archaeologist, the most important thing is his most recent rare discovery, says Július Vavák.

Students visited Svätý Jur as part of their European Wanderer project

How to sell Slovak books to English readers

Slovak literature makes it to the big bookstores of London, but it is unlikely to become a bestseller yet.

On Wednesday, Slovak literature will be presented in one of the biggest bookstores in London. Among the new books translated into English is also the anthology of current Slovak prose selected and translated by Magdalena Mullek and Júlia Sherwood.

General Prosecutor filed a motion for the dissolution of ĽSNS

The Slovak Supreme Court received a motion to dissolve the extreme right ĽSNS party founded and led by Marian Kotleba.

Jaromír Čižnár