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Analysts More Optimistic, Now Expecting 2.6% Economic Growth in 2010
Thursday 25 February 2010 Zoom in | Print page
Bratislava, February 25 (TASR) - Analysts working for commercial banks became more optimistic about the economy in February, with estimates for economic growth reaching 2.6 percent, up by 0.5 percentage points from January, according to the latest macroeconomic predictions by selected banks published by the Slovak central bank (NBS).
Analysts haven't changed their expectations via-a-vis growth in prices, still expecting inflation measured by EU methodology to average 1.5 percent this year. Expectations vis-a-vis inflation measured by national methodology fell from 2.1 percent to 2 percent, however.
The Finance Ministry and NBS are also counting on a recovery in the country's economy, after last-year's slump of 4.7 percent. The ministry anticipates 2.8-percent growth in 2010, while NBS is even more optimistic, foreseeing a 3.1-percent increase.
According to a recent quick estimate by the Statistics Office, gross domestic product (GDP) dropped by 2.7 percent year-on-year in the final quarter of 2009. It grew by 2 percent compared to 3Q09, however.
NBS stated that the Slovak economy performed slightly better than expected in the final quarter of 2009. Overall economic developments last year also exceeded original estimates by a small margin - NBS predicted a 4.9-percent contraction while the Finance Ministry expected a 4.8-percent slump.
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