Spectator on facebook

Spectator on facebook

NBS predicts GDP growth of 2.5 percent this year

Slovakia’s economy will grow more quickly than was predicted in March, according to the central bank. Gross domestic product (GDP) should increase by 2.5 percent in 2012, while in 2013 it will grow by 3.1 percent, according to the revised prognosis of the National Bank of Slovakia (NBS). In 2014 the economy should grow by 4.3 percent, the SITA newswire reported.

Slovakia’s economy will grow more quickly than was predicted in March, according to the central bank. Gross domestic product (GDP) should increase by 2.5 percent in 2012, while in 2013 it will grow by 3.1 percent, according to the revised prognosis of the National Bank of Slovakia (NBS). In 2014 the economy should grow by 4.3 percent, the SITA newswire reported.

The NBS’s governor, Jozef Makúch, explained that the reassessment of its forecast for this year was influenced by the more favourable development of the economy and employment in Slovakia during the first three months of the year.

However, consolidation of the public finances, which was not included in the growth calculation, might change the final figures, the governor added. He explained that when the central bank was working on the prognosis, there were no details about specific measures. Moreover, there is also a risk from the wider eurozone debt crisis.

“However, it is possible to estimate, based on the preliminary information [available], that measures will be adopted rather on the income side and will be of such character that they should not have a strongly negative impact on GDP in the short term,” Makúch said, as quoted by SITA. “Yet, the impact on the sustainability of the public finances and economic growth over the longer-term horizon might be questionable.”

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

Night life in Bratislava will not end

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

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

The most famous circus comes to town Video

The famous Cirque du Soleil is in Bratislava celebrating the 15th year of its show Varekai: Tales of the Forest.

Cirque du Soleil: Varekai

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.