Spectator on facebook

Spectator on facebook

IMF expects Slovakia’s economy to grow by 2.6 percent this year

The economy of Slovakia should grow at a solid pace this year in comparison with other eurozone countries, according to the International Monetary Fund (IMF). Daria Zakhar, the head of an OECD mission which has spent two weeks in Slovakia, said that economic growth might reach 2.6 percent of GDP and might even rise to 3 percent next year, the SITA newswire reported.

The economy of Slovakia should grow at a solid pace this year in comparison with other eurozone countries, according to the International Monetary Fund (IMF). Daria Zakhar, the head of an OECD mission which has spent two weeks in Slovakia, said that economic growth might reach 2.6 percent of GDP and might even rise to 3 percent next year, the SITA newswire reported.

During a press conference held at the Finance Ministry, Zakhar said that the IMF is satisfied with the performance of Slovakia’s economy and praised the country’s stable banking sector and relatively low debt.

The IMF mission also supported the efforts of the government to squeeze the budget deficit below 3 percent of GDP in 2013. It agreed with the opinion that available measures on the spending side of the budget have been already partially exhausted, SITA wrote.

On the other hand, the IMF did not welcome all measures currently being prepared by Robert Fico’s cabinet, for example the special bank levy.

Though the consolidation of the public finances should be a priority for Slovakia, Zakhar warned that this should not hamper economic growth. According to her, if the measure to increase income tax for corporate entities passes, its effect will have to be offset by consequent improvements in the business environment.

Zakhar also said it was necessary to fight the high jobless rate and to bridge regional differences, SITA wrote.

Source: SITA

Compiled by Radka Minarechová from press reports
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.

Top stories

Cemetery with a remarkable creative concept Photo

The shapes of tombstones were prescribed until 1997

Vrakuňa Cemetery in Bratislava

Fico: Women need protection, especially as more migrants arrive in Europe

The prime minister repeated that he refuses to allow the emergence of "compact Muslim communities in Slovakia" as he announced Slovakia will not ratify the Istanbul Convention as a whole.

Robert Fico

Blog: Foreigners, get involved

What about making our voices heard? And not only in itsy-bitsy interviews about traditional cuisine and the High Tatras.

Regional election 2017

Slovakia’s story of economic success

The country marks 25th anniversary of its existence as an independent state

Bratislava