Spectator on facebook

Spectator on facebook

NBS revises its economic growth forecasts for 2012-2014

Slovakia’s economy will grow by 2.7 percent in 2012, according to the latest prognoses published by the National Bank of Slovakia (NBS), the country’s central bank. The figure is 0.2 percentage points higher than the NBS predicted in June. However, the bank simultaneously slashed its GDP growth forecast for next year from 3.1 percent to 2.0 percent,.

Slovakia’s economy will grow by 2.7 percent in 2012, according to the latest prognoses published by the National Bank of Slovakia (NBS), the country’s central bank. The figure is 0.2 percentage points higher than the NBS predicted in June. However, the bank simultaneously slashed its GDP growth forecast for next year from 3.1 percent to 2.0 percent,.

The slight increase in predicted growth in 2012 is mainly related to higher demand for Slovak-made products abroad; domestic demand continues to be subdued. However, Slovakia cannot expect to benefit from an increase in car production next year similar to that which has propelled this year's figures, the SITA newswire reported.

In the next few years the economy is expected to experience weaker foreign demand, while domestic demand should make only a slight contribution to growth. The economy is now expected to grow by 3.5 percent in 2014, rather than the previous prediction of 4.3 percent.

Continuing uncertainty and decelerating foreign demand mean that the overall economic growth outlook has been revised downward, said NBS governor Jozef Makúch, as quoted by SITA.

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

Crematorium in Bratislava is an architectural revelation Photo

Those who have experienced farewells in other crematoria know what makes it special. Now the best work by the architect Ferdinand Milučký is getting a monograph

Crematorium in Bratislava by architect Ferdinand Milučký

What kind of expectations do some Slovaks have for world leaders?

Among EU member states, opinions of the United States declined in all but two — Poland (which makes some sense) and Slovakia (which does not).

Donald Trump

Crates and boxes. Slovaks discover new ways of grocery shopping

Farmer’s boxes are gaining customers in Slovakia as people slowly become more conscious about quality and the origin of the food they eat.

Foreigners: Top 10 events in Bratislava Video

Tips for the top 10 events in the capital between January 19 and January 28, plus regular services in different languages, training, temporary exhibitions and highlights of the year.

Scandi 4