Spectator on facebook

Spectator on facebook

BUSINESS IN SHORT

Moody’s issues 3% target warning

THE RATING agency Moody’s has followed Slovakia’s central bank in warning that slower economic growth might put pressure on the country’s public finances, the SITA newswire reported on April 3.

THE RATING agency Moody’s has followed Slovakia’s central bank in warning that slower economic growth might put pressure on the country’s public finances, the SITA newswire reported on April 3.

Moody’s also decreased its prognosis of Slovakia’s economic growth this year from 1.4 percent to 0.9 percent, while the Finance Ministry still counts with 1.2-percent growth, SITA reported. The rating agency did not make any changes to the country’s current A2 rating.

With the current setting, however, the government might have trouble maintaining the 3-percent deficit, Moody’s noted.

“While we expect the government to take further corrective measures to close the gap created by lower-than-budgeted revenue, we believe that fiscal slippage related to the weakening economy will prevent the government from achieving its deficit target,” Moody’s commented, as quoted by SITA.

The National Bank of Slovakia (NBS) has almost halved its prediction of GDP growth for 2013. In the latest of a series of downward revisions, the NBS on March 26 cut its forecast for growth this year from 1.3 percent to 0.7 percent.

The processing of personal data is subject to our Privacy Policy and the Cookie Policy. Before submitting your e-mail address, please make sure to acquaint yourself with these documents.

Top stories

Tom Odell surprised Slovak band in Bratislava Video

The British artist was wearing a T-shirt, presented to him by the Tolstoys, from start to finish at his Bratislava concert.

Tom Odell

El País: Female professor openly fights high gender pay gap in Slovakia

The major Spanish daily portrays Slovakia as one of the EU countries with the highest level of gender inequality through the story of Svetlana Fialová.

5 most significant results of the municipal elections Photo

A slightly higher turnout and more independent candidates. Some results in the municipal elections came as a surprise.