Spectator on facebook

Spectator on facebook

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.

Top stories

Sagan rewrites history Video

Cyclist Peter Sagan becomes the first man to win three consecutive world championships.

When the state can’t keep a secret

A selective leak has tarnished President Kiska’s reputation. But he must continue to speak out about corruption.

President Andrej Kiska

Blog: Why did I come here?

A group of teachers and students from the Bratislava-based school gathered to support their friend, colleague, and fellow foreigner, as she had already tried four times just to get in the door of the foreign police.

Queue in front of the foreigners' police department in Bratislava.

Teachers and scientist support anti-corruption march

They praise the activities of students who may change the current state of corruption.

Organisers of the first student protest, Karolína Farská and Dávid Straka.