Spectator on facebook

Spectator on facebook

EU Commission: Slovakia to be eurozone runner-up for 2013 GDP growth

Even though the short-term outlook for the EU economy remains fragile, 2013 should see a gradual return to GDP growth before further strengthening expected in 2014, according to a European Commission autumn prognosis for GDP growth in the EU between 2012-14 unveiled on the Commission's web site on Wednesday, November 7.

Even though the short-term outlook for the EU economy remains fragile, 2013 should see a gradual return to GDP growth before further strengthening expected in 2014, according to a European Commission autumn prognosis for GDP growth in the EU between 2012-14 unveiled on the Commission's web site on Wednesday, November 7.

When it comes to next year's developments, Slovakia should finish second place in the eurozone with economic growth of 2 percent. Only Estonia is forecast to fare better with 3.1 percent. On an annual basis, GDP is set to shrink by 0.3 percent in the EU as a whole and by 0.4 percent in the eurozone in 2012, according to the EU Commission. Economic growth for 2013 is predicted to reach 0.4 percent in the EU and 0.1 percent in the eurozone. The TASR newswire quotes the Commission as having written that "the large internal and external imbalances that built up in the pre-crisis years are being reduced, but this process continues to weigh on domestic demand in some countries, and economic activity diverges significantly across member states".

2014 is expected to see growth in the EU of 1.6 percent and of 1.4 percent in the eurozone. Slovakia's economic growth in 2014 is projected at 3 percent. "Europe is going through a difficult process of macroeconomic rebalancing, which will last for some time.... Major policy decisions have laid the foundations for strengthening confidence. Market stress has been reduced, but there is no room for complacency," Olli Rehn, Commission Vice-President for Economic and Monetary Affairs and the euro, is quoted as saying. The jobless rate is predicted to be just below 11 percent in the EU and 12 percent in the eurozone in 2013, but considerable variations between individual member states are anticipated. Slovakia's unemployment rate in 2013 is expected to be the fifth highest (13.5 percent) in the EU.

(Source: TASR)
Compiled by Zuzana Vilikovská from press reports
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.

Top stories

How the national emblem appeared – including so far secret communism designs

Even Slovaks often do not know why the national emblem depicts a white double-cross, and not the Kriváň peak, or the design by artist Vincent Hložník. They also do not know why it makes a difference whether it is…

Offical Slovak national emblem and colours

Bratislava Zoo will have new wolf breeding station

One of most significant investments of the Bratislava Zoo in the year 2017 will be the building of a new wolf breeding station.

Foreigners: Events around Slovakia Photo

Tips for performances and other events in the Slovak regions between February 17 and February 26, including a race on old wooden sleighs, an operetta premiere, a lot of jazz, classical and rock music, and more.

Rce in krňačky sleighing, Turecká 2017

Some food really is better in Austria, study finds

EC says its role is to monitor safety, not quality – but Slovaks want the same as Austrians, says minister.

Illustrative stock photo