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| FinMin analysis: Slovakia is behind its cyclic growth peak |
| Bratislava, 07.02.2019 |
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| The ministry has revised its growth prognosis downwards, pointing mostly to development abroad.
The Finance Ministry has revised its economic growth forecast for this year downwards. Compared with last September, it worsened the prediction by 0.5 points to only 4 percent in its recent February prognosis.
Analysts from the Institute for Financial Policy (IFP), running under the Finance Ministry, hinted that Slovakia’s economy achieved its cyclic peak in 2018, when it grew at 4.3 percent.
“The slow-down comes with the weakening demand abroad, but new automotive production and the labour market are expected to draw the economy,” reads IFP analysis.
At the same time, it decreased production for the following two years as well, to 3.7 percent in 2020 (down 0.2 percentage points) and to 3.2 percent in 2021 (down 0.1 percentage points). The economy is expected to rise at 2.5 percent in 2022.
“We’re doing this revision based on the situation outside Slovakia, and not in Slovakia,” said Finance Minister Peter Kažimír, as quoted by the Denník N daily.
Despite the worse economic growth prediction, he does not think it will have a negative impact on budget plans for this year.
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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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