Economy expected to grow by 3.2 percent

Commercial bank analysts increase their prediction 0.1 percent compared to the November prognosis.

Illustrative stock photoIllustrative stock photo (Source: SME)

Slovakia’s gross domestic product should increase at a tempo similar to last year.

The economy should grow by 3.2 percent this year, according to the December survey of the National Bank of Slovakia (NBS) carried out among analysts from commercial banks. The increase for 2016 is predicted to stand at 3.3 percent, the SITA newswire reported.

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The analysts increased the prognosis for 2017 by 0.1 percentage points compared with their November predictions.

The commercial banks expect that consumer prices will start increasing again this year. The year-end harmonised inflation and also the inflation measured by the national methodology should amount to 1.4 percent in 2017, according to the analysts.

Prices started increasing at the end of 2016, after three years. They rose in December by 0.2 percent, according to the national methodology. For the whole year, however, consumer prices dropped 0.5 percent, SITA reported.

Read also: Prices in Slovakia grow again, after three years Read more 

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