The economy should rise at nearly 4 percent

The central bank’s survey of analysts showed expectations of GDP at 3.3 percent for 2017.

The automotive industry, illustartive stock photoThe automotive industry, illustartive stock photo (Source: Sme)

The survey of analysts carried out in October by the National Bank of Slovakia (NBS), the country’s central bank, showed GDP growth at 3.3 percent by the end of this year.

Bank analysts have not changed their estimate compared to the previous month, the TASR newswire wrote on October 25.

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GDP growth should accelerate next year. Analysts predict GDP growth in fixed prices to achieve 3.9 percent, while their forecasts have not changed from September in this respect, either.

Analysts also looked at inflation development in Slovakia: according to them, it should amount to 1.4 percent this year and increase to 1.9 percent in 2018.

This year inflation measured by the national methodology should amount to 1.3 percent, while harmonised inflation should be a 0.1 percentage point higher at 1.4 percent, the SITA newswire wrote. For next year, analysts expect price growth to accelerate, and end-of-year inflation according to both the national methodology and the European Union’s harmonised index should reach 1.9 percent.

Bank analysts expect the European Central Bank’s key refinancing repo rate to remain at zero this year and at 0.10 percent next year.

The bank analysts remain consistent in their forecasts and have left the economic growth forecast unchanged for this and next year for the third month in a row.

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