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Slovakia's Economy Slowed Slightly to 4.7 percent Y-o-Y in 2Q10
Thursday 02 September 2010 Zoom in | Print page
Bratislava, September 2 (TASR) - Slovakia's economic growth eased to 4.7 percent year-on-year in the second quarter of 2010, down slightly from the 4.8 percent recorded in 1Q10, said the Statistics Office on Thursday, after revising its preliminary estimate of 4.6 percent.
Between April and June, Slovakia's gross domestic product (GDP) grew to €16.36 billion worth of goods and services produced, largely driven by foreign and domestic demand. Sales abroad jumped by 16.5 percent year-on-year in the period, while domestic demand was 14.4 percent up on an annual basis.
In the first half of this year, meanwhile, Slovakia's economy grew by 4.7 percent, with accumulated GDP of €31.43 billion.
Forecasts by Slovakia's central bank (NBS) and the Finance Ministry as well as by international institutions have all signalled a pick-up in the country's economy after last year's slump of 4.7 percent. Whereas the ministry expects a 3.2-percent GDP growth in 2010, the central bank and the International Monetary Fund are more bullish, expecting the economy to grow by 3.7 percent and 4 percent, respectively.
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