Spectator on facebook

Spectator on facebook

Bank analysts forecast economic growth of 0.9 percent in 2013

The economic growth predictions of Slovak bank analysts stabilised in April following months of downward revisions. In the April round of the regular survey by the National Bank of Slovakia, commercial bank analysts said that the Slovak economy would expand by 0.9 percent in 2013 and 3 percent in 2014.

The economic growth predictions of Slovak bank analysts stabilised in April following months of downward revisions. In the April round of the regular survey by the National Bank of Slovakia, commercial bank analysts said that the Slovak economy would expand by 0.9 percent in 2013 and 3 percent in 2014.

Such a result would mean a slowdown of over half compared to last year's GDP growth of more than 2 percent. New automotive projects were the main driving force last year but they will not contribute so much to growth in economic output this year.

Expectations of consumer price growth changed slightly in April. The bank analysts assume that harmonized inflation and inflation measured by the national consumer price index will reach 2.2 percent this year. This is a downward revision of the March estimate by 0.1 percentage points, the SITA newswire wrote. Price growth in 2014 is expected to accelerate to 2.8 percent.

Bank analysts are presently slightly more bullish in their prognoses than the central bank, which slashed its 2013 outlook from 1.3 percent to 0.7 percent a month ago. The Finance Ministry estimates that GDP growth this year will be 1.2 percent.

Source: SITA

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

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

Rector, minister, president. Why nobody halted the plagiarists’ appointment?

None of the concerned parties see their role in evaluating the moral qualities of the candidate for professor.

Marian Vanderka

Fallen lines and engine fires: Slovak trains are not without incidents Photo

Slovak rail carrier ZSSK is facing a massive wave of criticism after some recent accidents.

Fire on a train between Šaľa and Galanta.

Pohoda Festival organisers to pay compensation to parents of fatality

The verdict obliging the famous music festival to pay damage compensation to those bereft of a girl who died in 2009 from injuries caused by a fallen tent is not effective yet.

The damaged tent hit or put at risk at least 300 people back in 2009.

Rules for hiring foreigners are simpler. For exceptions

Despite positive changes, employers still point to some barriers preventing more effective and simpler recruitment of foreign workers.

Some problems with Foreigners’ Police continue.