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FinMin: Growth of Slovak Economy to Reach 2.8% of GDP in 2010
Wednesday 21 April 2010 Zoom in | Print page
Bratislava, April 21 (TASR) - The Finance Ministry estimates the growth of Slovakia's economy to reach 2.8 percent of GDP in 2010, Finance Ministry State Secretary Frantisek Palko said at the 'Management of Financial Risks' conference organised by Coface in Bratislava on Wednesday.
At the same time, the ministry expects the deficit of public finances to reach 5.5 percent of GDP this year.
"The main reason for the changes in the prognosis was improvement of expectations in the development of the external environment, improvement in indicators of economic sentiment and better results of the real economy in the eurozone at the end of 2009," said Palko.
He noted that the prognosis drawn up by the Finance Ministry reckons on motorway construction, funded via PPP (public-private partnership) projects that will significantly contribute to the GDP growth this year.
Meanwhile, the ministry expects a negative development in consumption by households due to the high unemployment rate (almost 13 percent) and falling real salaries.
In 2009, the Slovak economy recorded a slump of 4.7 percent, with the public finance deficit at 6.3 percent of GDP as opposed to the expected 2.1 percent.
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