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NBS: GDP Growth in Slovakia to Decelerate to 3.3 percent in 4Q10
Thursday 23 December 2010 Zoom in | Print page
Bratislava, December 23 (TASR) - Bank analysts expect that growth in Slovakia's economy will further decelerate in the final quarter of 2010, according to the latest macro-economic predictions released by the country's central bank (NBS) on Thursday.
While GDP in Slovakia grew by 3.8 percent year-on-year in 3Q10, it should only expand by 3.3 percent y-o-y in the final three months of the year.
The analysts' forecasts haven't changed when it comes to the whole of 2010. They've stuck with the 4-percent y-o-y rise predicted in November.
Meanwhile, commercial banks slightly reduced their prognosis of growth for 2011 from 3.6 percent to 3.5 percent y-o-y.
Like NBS, the Finance Ministry expects GDP growth to reach 4 percent y-o-y this year, with a deceleration to 3.3 percent in 2011. The central bank is more pessimistic for next year, counting on growth of only 3 percent.
At the same time, inflation should increase. While the prices of goods and services should go up by 1.3 percent y-o-y in 2010, inflation should rise to 3.7 percent y-o-y in 2011. Likewise, EU-harmonised inflation should go up from 1.2 percent y-o-y in 2010 to 3.6 percent.
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