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

In praise of concrete

It was once notorious for its drab tower blocks and urban crime, but Petržalka now epitomises modern Slovakia.

Petržalka is the epitome of communist-era architecture.

Slow down, fashion

Most people are unaware that buying too many clothes too harms the environment.

In shallow waters, experts are expendable

Mihál says that it is Sulík, the man whom his political opponents mocked for having a calculator for a brain, who “is pulling the party out of liberal waters and towards somewhere completely different”.

Richard Sulík is a man of slang.

Blog: Exploring 20th century military sites in Bratislava

It seems to be the fate of military sites and objects in Bratislava that none of them were ever used for the purposes they were built for - cavernas from WWI, bunkers from WWII, nuclear shelters or the anti-aircraft…

One nuclear shelter with a capacity for several hundred people now serves as a music club with suitable name Subclub (formerly U-club).