Spectator on facebook

Spectator on facebook

BUSINESS IN SHORT

NBS reduces its GDP-growth forecast

THE NATIONAL Bank of Slovakia (NBS), the country’s central bank, has lowered its forecast for Slovakia’s economic growth in 2012. Last December the bank predicted GDP would rise by 2.3 percent this year but now forecasts growth of only 2.1 percent, the SITA newswire reported.

THE NATIONAL Bank of Slovakia (NBS), the country’s central bank, has lowered its forecast for Slovakia’s economic growth in 2012. Last December the bank predicted GDP would rise by 2.3 percent this year but now forecasts growth of only 2.1 percent, the SITA newswire reported.

The governor of the NBS, Jozef Makúch, told a press conference on March 27 that the bank’s prediction was prepared when uncertainty on financial markets was no longer growing but that foreign demand was gradually falling. He added that the mid-term prognosis was positively influenced by good Slovak economic growth in the last quarter of 2011 and negatively influenced by labour market conditions.

Makúch added that the bank’s new prediction still has several risk factors such as the need for continued fiscal consolidation by the government that has an unclear economic impact and by potential tightening of lending conditions in Europe that could impact on foreign demand and investments in Slovakia, SITA wrote.

The NBS forecasts that the Slovak economy will grow by 3.1 percent in 2013 and by 4.2 percent in 2014.

Top stories

Night life in Bratislava will not end

Councillors for the Old Town adopt new opening hours for pubs, night clubs and restaurants.

Cvernovka's creative talents celebrate first open day at new premises Photo

Bratislava's art and design ateliers from the old yarn-making factory open their doors on May Day.

New premises for Cvernovka

How social networks can earn you a ticket to Germany

Can a status on a social network change someone’s life? Yes, if you write humorous stories about a fictive German ambassador.

Assaf Alassaf (r) talked about his life and his book in Bratislava

New investor to create 500 jobs in Nitra

A company following the Jaguar Land Rover carmaker to Nitra plans to create 500 new jobs and invest €17 million.

Tha Jaguar Land Rover draws also other investors to Nitra.