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FinMin reportedly adjusts economic growth prognosis

THE FINANCE Ministry allegedly decreased its growth prognosis for 2015 from 3 to 2.6 percent, the Sme daily reported in its September 17 issue. The decision came one month after introduction of the first draft of the 2015 state budget.

THE FINANCE Ministry allegedly decreased its growth prognosis for 2015 from 3 to 2.6 percent, the Sme daily reported in its September 17 issue. The decision came one month after introduction of the first draft of the 2015 state budget.

In addition to the ministry, several commercial banks have also adjusted their predictions for next year’s economic growth downward. UniCredit Bank, for example, recently lowered its prognosis from 3.4 to 2.5 percent, and VÚB bank made a similar decrease, Sme wrote.

In its September prognosis the ministry reportedly took into consideration the impact of the Ukrainian-Russian conflict, an issue it did not factor back in June, according to Sme.

The Slovak economy may be affected indirectly through weaker growth in the eurozone. Problems may occur especially if the German economy slows down, which is indicated by several factors. Moreover, compared to the first three months of the year, the German economy fell by 0.2 percent in the second quarter, Sme reported.

The Financial Policy Institute (IFP), which runs under the Finance Ministry, has kept its prediction for this year’s growth at 2.4 percent.

The companies addressed by Sme said they do not report problems connected to orders from Russia or Ukraine, and that they have not noticed any signals that this will change in the near future.

Source: Sme

Compiled by Radka Minarechová from press reports

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