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Bank Analysts Ever More Optimistic About Slovak Economy
Wednesday 25 November 2009 Zoom in | Print page
Bratislava, November 25 (TASR) - Analysts with commercial banks are ever more optimistic in their forecasts concerning the development of the Slovak economy, according to the latest macroeconomic predictions of selected commercial banks that were released by central bank NBS on Wednesday.
The expected fall in the Slovak economy, the estimates for which had been getting gloomier and gloomier in the first half of 2009, has been steadily abating since July. The banks currently expect Slovak economy to contract by 4.9 percent this year, while the predicted figure as recently as October was 5.1 percent.
The Finance Ministry and NBS in their official prognoses expect the Slovak economy to contract by 5.7 and 5.6 percent, respectively. As for 2010, the ministry predicts growth of 1.9 percent, while the central bank is considerably more optimistic and places its estimate at 2.9 percent.
More optimistic forecasts are observed when it comes to developments of the Slovak economy in 2010, too. In October the economy was envisaged to grow at 1.9 percent next year, while the estimate in November stands at 2.1 percent.
In line with the analysts' latest predictions, inflation according to local methodology in 2009 should reach 0.7 percent, while EU-harmonised inflation should stand at 0.1 percent. Next year, inflation is expected to accelerate to an expected 2.3 and 1.9 percent, respectively.
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