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IMF predicts higher growth for Slovakia

The global economy should grow at a relatively slow pace this year as well as next, according to the latest prognosis of the International Monetary Fund (IMF). However, one exception will be Slovakia, which should enjoy one of the highest growth rates in the eurozone, the SITA newswire reported on October 9.

The global economy should grow at a relatively slow pace this year as well as next, according to the latest prognosis of the International Monetary Fund (IMF). However, one exception will be Slovakia, which should enjoy one of the highest growth rates in the eurozone, the SITA newswire reported on October 9.

The fund expects the global economy to grow by only 3.3 percent this year, compared to the 3.5 percent predicted in July. In 2013 it should grow at a pace of 3.6 percent, 0.3 percentage points less than in the IMF’s previous forecast.

Slovakia’s economy is expected to grow by 2.6 percent this year and by 2.8 percent in 2013. Such a rate of growth could make it the second fastest-growing economy in the eurozone. It would be surpassed only by Estonia, whose growth is predicted to reach 3.5 percent, SITA reported.

The IMF also predicted that inflation in Slovakia will fall from the 3.6 percent predicted this year to 2.3 percent next year. The jobless rate should also drop from 13.7 percent in 2012 to 13.5 percent in 2013.

The IMF prediction is more optimistic than those issued by the Finance Ministry and the National Bank of Slovakia (NBS), the country’s central bank. While the former expects the economy to grow at a pace of 2.5 percent in 2012 and 2.1 percent next year, the latter predicts growth at 2.7 percent this year and 2 percent the following year.

Source: SITA

Compiled by Radka Minarechová from press reports
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