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Quick Estimate: Slovak Economy Contracted by 4.7 percent in 2009
Friday 12 February 2010 Zoom in | Print page
Bratislava, February 12 (TASR) - According to a quick estimate published by the Slovak Statistic Office on Friday, the Slovak economy contracted by 4.7 percent in 2009.
In a y-o-y comparison, gross domestic product (GDP) in 2009 shrank by 2.7 percent in fixed prices and by 3 percent in current prices.
In 2008, the Slovak economy expanded by 6.2 percent, but under the influence of the global financial crisis it contracted by 5.7 percent in 1Q09, by 5.5 percent in 2Q09, and by 4.8 percent in 3Q09.
In 4Q09 it shrank by 2.7 percent, thereby confirming analysts' expectations. GDP reached €16.498 billion in 4Q09. Adjusted for inflation, it totalled €12.325 billion, which was 3.6 percent lower than in the same period of 2008.
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