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| Economy boosted by demand |
| Bratislava, 16.02.2017 |
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| GDP grew slightly less than in 2015, mostly due to lower use of EU funds.
After a drop in economic growth in the third quarter, the development in the final three months of 2016 exceeded some analysts’ expectations. Slovakia likely benefited from stronger domestic and foreign demand, though it struggled with investments which declined significantly after the boom caused by the need to use the rest of the EU funds allocated for the previous programming period.
Observers hope the situation will improve in the coming quarters, though there are some external risks that may hinder economic growth.
“The growth of Slovakia’s economy in the end of the year surprised us positively,” Ľubomír Koršňák, analyst with UniCredit Bank Czech Republic and Slovakia wrote in a memo.
The gross domestic product at constant prices increased 3.1 percent year-on-year in the final quarter of 2016. After seasonal adjustment, it rose by 2.9 percent y/y and by 0.8 percent compared with the previous quarter, according to the flash estimate published by the Slovak Statistics Office on February 14.
Economic growth for 2016 thus amounted to 3.3 percent y/y, a decline of 0.3 percentage points compared to the previous year. This was mostly the result of Slovakia drawing the remaining money from EU funds allocated for the 2007-2013 programming period. The lower amounts had the biggest impact on public investments, explained Slovenská Sporiteľňa analyst Katarína Muchová.
odkaz na stránku
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Address : Euro-Brew Ltd., Hlboká 22, 917 01 Trnava, Slovakia
Tel. : +421 33 53 418 53, Fax : +421 33 53 418 52, E-mail : info@eurobrew.sk |
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