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NBS: Slovak Economy Performed Slightly Better Than Expected in 2009
Wednesday 24 February 2010 Zoom in | Print page
Bratislava, February 24 (TASR) - The performance of Slovakia's economy in the final quarter of 2009 was significantly better than expected, Slovakia's central bank (NBS) commented on Wednesday.
"We expect economic activity to continue to recover in the months ahead," reads the latest evaluation, which is part of a series of documents issued by NBS on a monthly basis.
According to NBS's recent quick estimate, the country's gross domestic product (GDP) fell by 2.7 percent year-on-year in 4Q09. This figure represents a quarterly improvement of 2 percent, however.
For the whole of 2009, the Slovak economy reported a slump of 4.7 percent, which is actually slightly better than both NBS and the Finance Ministry were forecasting - the bank in December expected a contraction of 4.9 percent year-on-year, while the ministry predicted that the economy would shrink by 4.8 percent.
Official prognoses state that the situation should turn around this year, with the economy improving. According to the Finance Ministry's outlook for the economy, an increase of 2.8 percent can be expected. NBS is even more optimistic, predicting 3.1-percent growth.
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