BUSINESS IN SHORT

FinMin expects faster GDP growth

THE SLOVAK economy’s performance should improve in the second half of this year. The Finance Ministry expects the economy to grow by 0.8 percent in 2013, while only 0.5 percent growth was anticipated in the June prognosis. The most recent forecast was released on September 19.

THE SLOVAK economy’s performance should improve in the second half of this year. The Finance Ministry expects the economy to grow by 0.8 percent in 2013, while only 0.5 percent growth was anticipated in the June prognosis. The most recent forecast was released on September 19.

The ministry’s expectations for next year remain unchanged, according to the most recent prognosis, the Sme daily reported. The GDP is expected to grow by 2.2 percent in 2014.

Higher GDP growth comes as good news for the state budget, as the state now expects to earn €100 million more in taxes than it previously planned, Sme reported.

Higher growth is however not expected to decrease the country’s unemployment rate, which was reported at 13.7 percent in August (down 0.29 percent compared to July) by the SITA newswire.

The improved outlook for the Slovak economy is mainly due to households spending more despite high unemployment, Sme wrote.

“It is because the prices are growing slower,” Slovenská Sporiteľňa analyst Martin Baláž told Sme.

Get daily Slovak news directly to your inbox

Top stories

Better times ahead for the Calvary in Bratislava

The last preserved station was restored this summer.

The last preserved station of the Stations of the Cross in Bratislava

Why you need to buy a belt

On this Black Friday, with society teetering on the brink of chaos, I ask that we all do our part.

Roundup: Bratislava’s Old Market Hall hosts Christmas markets

If you have not watched the 'Dracula' miniseries, filmed in Slovakia last year, it is about time.

Bratislava’s Old Market Hall will provide visitors with Christmas vibes in the coming four weeks. Each week, from Wednesday to Saturday, people can do a little bit of Christmas shopping at the venue.

Fico admits to ties with Bödör

Former prime minister stands by his praise for the state secretary who confessed to corruption and court interference.

Robert Fico during his November 26 press conference.