Moody’s predicts an increase in car production in Slovakia

Slovakia’s economy will see a rise next year, with car production providing its most significant boost, according to the latest prognosis of the Moody’s rating agency. In addition to Slovakia, the report assessed the automobile industry and its effects on the economies of Czech Republic, Poland and Slovenia, the Sme daily reported.

Slovakia’s economy will see a rise next year, with car production providing its most significant boost, according to the latest prognosis of the Moody’s rating agency. In addition to Slovakia, the report assessed the automobile industry and its effects on the economies of Czech Republic, Poland and Slovenia, the Sme daily reported.

The agency listed Slovakia as a country with high economic power. The economic growth might reach up to 1.9 percent of GDP this year and 2.3 percent in 2013. The only risk is the dependency of the country on demand from other EU countries.

The number of cars produced by Slovakia might reach 750,000, compared to 640,000 made last year, according to the prognosis. The increase is mostly attributed to higher demand from Germany and Asia, as well as the opening of new production halls by Volkswagen and Kia, Sme wrote.

Source: Sme

Compiled by Radka Minarechová from press reports

The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.

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