Spectator on facebook

Spectator on facebook

Finance Ministry boosts GDP growth estimate

THE FINANCE Ministry boosted its GDP growth estimate in comparison with its previous September estimate by 0.3 percentage point to 3.2 percent of GDP for 2015 and by 0.1 percentage point to 3.7 percent of GDP for 2016. 

Finance Minister Peter Kažimír (Source: TASR)

The similar growth is expected even in 2017 and 2018 both by 3.6 percent, according to ministry’s press release.

“It’s the highest growth estimate since 2010,” Finance Minister Peter Kažimír told the press on June 17, as quoted by the TASR newswire. “Today we have healthy combination of export recovery and domestic consumption. It means the [higher] consumption of households and recovery of investments.”

The significant growth in first quarter of 2015 resulting from higher export of automotive industry is behind the boost, according to TASR.

The numbers are result of positive external factors as well as domestic policy of the government. The progress of Slovak economy will allow government to continue in its policy of social packages, according to Prime Minister Robert Fico.  

“Slovakia is doing well therefore no one should by surprised that government has ambition to share good economic results with citizens,” Fico told the press.

The rise of employment rate should also continue and ministry’s analysts boosted the expected growth from 0.6 percentage point to 1.2 percentage point therefore unemployment rate should decline from 13.2 in 2014 to 12.1 in 2015.

“After last year - marked by external risks in development - the exports will rapidly increase and significant growth of employment rate will prevail,” ministry writes, as quoted by TASR.

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.

Topic: Economics


Top stories

Long-neglected Renaissance house in Bratislava’s centre reveals its secrets Photo

The National Trust is bringing the historical Rómer’s house back to life.

Renaissance Rómer’s house in the Bratislava's Old Town

Slovak healthcare needs thousands of medical workers

Slovak doctors, nurses and midwives are not hesitating in finding better work conditions abroad.

Illustrative Stock Photo

News isn’t negative because journalists are cynical

The problem is caused by the demand side.

RE-inventing modern theatre Photo

This year's international theatre festival REvolves around the prefix “re”, playing with its meanings and connotations, while also commemorating the years in (Czecho-)Slovak history ending with 8.

TR Warsaw: My Struggle