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Analyst: Propects for Slovak Economy Are Quite Optimistic
Tuesday 04 May 2010 Zoom in | Print page
Kosice, May 4 (TASR) - The prospects of the Slovak economy for next two years are relatively optimistic, especially thanks to multiplying hints of recovery coming from overseas as well as from the eurozone, said Volksbank Slovensko analyst Vladimir Vano on Tuesday.
Vano was speaking at a business breakfast in Kosice organised by the American Trade Chamber (AMCHAM) for the business and banking sphere. According to him, Slovakia will enjoy its unique position for many more years, as it is one of the new EU-member states in Eastern Europe and offers a developing market - in particular an interesting ratio between labour costs and quality. At the same time it provides all the advantages of eurozone membership - currency stability, lower transaction costs within the eurozone, more beneficial and predictable currency policy and higher overall stability in the economic environment. Slovakia's favourable geographical position - in the centre of a 90-million-head market with Poland, the Czech Republic, Hungary, Romania and Bulgaria - is gaining even more strategic importance thanks to the euro.
"From the long-term perspective, it's obvious that especially the 90-million-plus market of new (EU) members in the East offers the most interesting opportunities for growth. This means that multi-national companies can hardly afford to ignore it," said Vano, adding, however, that only time will tell whether Slovakia will be able to utilise this competitive advantage.
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