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Makuch: Slovakia Should Increase Exports and Diversify Production
Tuesday 11 May 2010 Zoom in | Print page
Bratislava, May 11 (TASR) - Slovak companies are increasing their exports to EU countries but the contribution to the GDP from these exports is still lower than it should be, Slovak National Bank (NBS) Governor Jozef Makuch said Tuesday at an HN Club discussion forum focused on evaluating Slovakia's businesses.
"Slovakia should focus on increasing its exports and also on diversifying its production. However, equally important is to develop sophisticated technologies," the NBS governor said.
He added that Slovakia has a small and vulnerable economy – therefore, the country shouldn't rely solely on domestic production. "We need to pay attention to foreign demand, as our activities depend first and foremost on German demand. Foreign countries play a crucial role in the economic development of Slovakia," said Makuch, the fourth NBS governor and the first post-euro. He is convinced that the euro has helped make Slovakia a stable country for investors.
According to Makuch, the growth of the Slovak economy should be based on greater support for research and development.
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