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Stats Office Preliminary Estimate - GDP Grew by 4.6 percent in 2Q10
Friday 13 August 2010 Zoom in | Print page
Bratislava, August 13 (TASR) - According to a quick estimate published by the Statistics Office on Friday, the Slovak economy grew by 4.6 percent y-o-y in the second quarter of this year.
The tempo of growth therefore decelerated only slightly compared to the first quarter of 2010, when it reached 4.8 percent y-o-y. Analysts expected an even more significant deceleration below 4 percent later in the year, however.
Slovakia's economic output increased by 4.7 percent y-o-y in the first half of 2010.
In the April-June period, Slovakia's gross domestic product reached €16.3 billion. After seasonal effects are taken into account, GDP represented €12.5 billion in fixed prices in 2Q10, which is an increase of 4.9 percent y-o-y.
Prognoses made by international institutions, the Finance Ministry and the central bank (NBS) have indicated that the recovery in Slovakia's economy after a slump of 4.7 percent y-o-y last year should be among the most significant in the EU in 2010. While the Finance Ministry expects growth to reach 3.2 percent y-o-y in 2010, the central bank has forecast 3.7-percent growth. The International Monetary Fund is even more optimistic, expecting that Slovakia's economic growth should reach 4 percent y-o-y in 2010.
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