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.

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.

Get daily Slovak news directly to your inbox

Theme: Economics

Read more articles by the topic

Top stories

News digest: Slovakia to spend three Advent weekends with testing. President wants it to be voluntary

Seven candidates for the general prosecutor post approved. Acting general prosecutor steps down.

Installation of Christmas tree in Trnava

Who was behind the sale of one of the biggest banks in Slovakia

The largest law firms were involved in several innovative projects, too.

UK nationals in Slovakia advised to take action as end of transition period nears

UK Nationals should check the British Embassy's "Living in Guide" for the most up-to-date information.

Illustrative stock photo

Three rounds of testing should take place before Christmas

The first round will be nationwide and should take place in two weeks.