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IMF changes prognosis for Slovakia

The International Monetary Fund (IMF) worsened its prognoses for Slovakia for this and next year, the Pravda daily reported on August 16.

The International Monetary Fund (IMF) worsened its prognoses for Slovakia for this and next year, the Pravda daily reported on August 16.

The economy should grow at 0.6 percent this year, compared to the original forecast of 1.4 percent. IMF also downgraded the growth for 2014 to 2.3 percent, down from 2.7 percent.

If the growth will continue to slow, the government should change its deficit predictions, the IMF said, as reported by Pravda.

The IMF also recommended Slovakia focus on combating unemployment, which stood at 14.25 percent in June.

The fund also warned against the increasing public debt, which it predicts will exceed 57 percent of GDP in two years, even though the Finance Ministry predicts the debt will stay below this level, the Hospodárske Noviny daily wrote.

Source: Pravda, Hospodárske Noviny

Compiled by Radka Minarechová from press reports

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