Spectator on facebook

Spectator on facebook

Finance Ministry unit predicts GDP growth of 2.3 percent

The Financial Policy Institute (IFP) of the Finance Ministry has re-evaluated the possible growth of Slovakia's GDP for 2012 and wrote that GDP is expected to increase between 1.9 and 2.6 percent, the TASR newswire reported. "It is 2.3-percent growth that seems most likely at the moment," the institute reported on March 21, adding that even after taking the lower revenues from excise taxes into account, the more dynamic economic growth could bring in €53 million more in comparison with the original estimates. IFP chose to draft a new prognosis due to more positive results of Slovakia's economy recorded in 4Q11 as well as better prospects for the eurozone economy in the first half of 2012.

The Financial Policy Institute (IFP) of the Finance Ministry has re-evaluated the possible growth of Slovakia's GDP for 2012 and wrote that GDP is expected to increase between 1.9 and 2.6 percent, the TASR newswire reported.

"It is 2.3-percent growth that seems most likely at the moment," the institute reported on March 21, adding that even after taking the lower revenues from excise taxes into account, the more dynamic economic growth could bring in €53 million more in comparison with the original estimates. IFP chose to draft a new prognosis due to more positive results of Slovakia's economy recorded in 4Q11 as well as better prospects for the eurozone economy in the first half of 2012.

"The positive result was recorded in late 2011 mostly by Slovak exports, which managed to see significant gains despite the worsening economic situation of our major trading partners," states the document, as quoted by TASR. This as well as more positive German economic indicators and more optimism seen on European bond and stock markets influenced the decision made by IFP to re-evaluate its forecasts.

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.

Top stories

Historically first ex-ministers were sentenced for the bulletin-board tender

Former construction ministers of the SNS party have received years in prison for the scandal surrounding the infamous bulletin-board tender. The other three defendants, ministry officers, have been acquitted.

L-R: Marian Janušek is ianugurated as replacing Igor Štefanov in post of construction minister, April 2009.

Refurbishment of Trnavské Mýto has started

The facelift of the underpass crossing should be completed by summer. Fate of nearby Istropolis still not known

Reconstruction of Trnavské Mýto underpass started.

Europe will continue fighting dual quality products

The recent Bratislava summit raised some suggestions on solving the problem, but it will be a long process.

Yeme grocery store in Bratislava.

The chairman of the committee tasked to improve tax returns has problems himself

The newly set-up committee meant to prepare a law on the more detailed property disclosures of politicians is headed by ex-minister Martin Glváč from Smer, who is refusing to publish details of his assets.

L-R: Martin Glváč and Andrej Danko