Central bank cuts its GDP growth forecast for 2013

The Slovak economy will grow by only 1.3 percent this year, less than the 1.6 percent previously predicted, according to an updated mid-term prognosis issued by the National Bank of Slovakia, the country’s central bank.

The Slovak economy will grow by only 1.3 percent this year, less than the 1.6 percent previously predicted, according to an updated mid-term prognosis issued by the National Bank of Slovakia, the country’s central bank.

“After estimating that Slovak GDP growth reached 2.4 percent in 2012, we predict that growth will slow to 1.3 percent in 2013,” said NBS representatives, as quoted by the TASR newswire, adding that growth should rebound to 3.3 percent in 2014.

The NBS downgraded its predictions based on two factors: a moderate drop in the growth of foreign demand that will affect export performance, and worse-than-expected indicators from the domestic economy. The bank foresees a renewal in market confidence and gradual acceleration in foreign demand from the latter half of 2013.

Meanwhile, the NBS also modified its inflation rate prediction, saying inflation should drop from 3.7 percent in 2012 to 2.2 percent in 2013 and 1.9 percent in 2014, TASR wrote.

Source: TASR

Compiled by Radka Minarechová from press reports
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.

Get daily Slovak news directly to your inbox

Top stories

News digest: Slovakia still dealing with the loss of its talent

Economy minister promises extensive support for hydrogen technologies in Slovakia. Far-right supporters protested in front of PM’s house during the weekend.

The far-right ĽSNS organised a protest in front of PM Igor Matovič's house in Trnava.

Hospital manners expose the toxicity of Kollár

Unjustified privileges overshadow some good news of the coalition's work. Halloween testing will not be repeated during advent time.

PM Igor Matovič (l) and Speaker of Parliament Boris Kollár

Sulík’s party benefits from the dispute with PM Matovič

The Hlas party of former PM Pellegrini is rising, too.

Economy Minister Richard Sulík (l) was charged by PM Igor Matovič (r) to purchase millions of antigen tests.

Anyone can publish a book. Authors often avoid publishers

Self-publishing is setting a new trend.

Nikoleta Kováčová has published two cookbooks without the aid of a publishing house.