Slovakia's central bank on Tuesday slashed its 2013 growth forecast to 0.7 percent from a previous 1.3 percent and said the eurozone member would also do worse than expected next year, amid the debt crisis in the 17-member currency bloc. "We now expect the economy to grow by 0.7 percent this year and by 2.8 percent next year against the previously expected 3.3 percent," central bank chief and ECB governing council member Jozef Makuch told reporters in Bratislava. "The recession in the eurozone also has an impact on Slovakia," he said, noting that "domestic demand has continued to fall while net exports were the only driving force of the economy." Domestic demand has been weak as the government cuts spending and raises taxes to squeeze the public deficit from an estimated 4.6 percent of GDP last year to under the EU's 3.0 percent ceiling this year. Slovakia's exports are dominated by cars and electronics for the European market. The finance ministry expects output to grow by 1.2 percent this year, after expanding 2.0 percent in 2012.
GMT 12:09 2018 Monday ,26 November
Black Friday less wild as more Americans turn to online dealsGMT 15:07 2018 Sunday ,18 November
Refugee host countries discuss UNRWA's financial crisisGMT 17:22 2018 Wednesday ,31 October
Russia climbed to 31st place in Doing Business-2019 ratingGMT 16:53 2018 Wednesday ,17 October
"Putin" We need for collective restoration of Syria's economyGMT 14:02 2018 Friday ,12 October
Govt to announce incentives package for Overseas PakistanisGMT 18:26 2018 Saturday ,06 October
Dubai attracts Dh17.7 billion in foreign direct investmentGMT 09:02 2018 Friday ,21 September
Economy of Georgia demonstrates "strong signs of recovery"GMT 09:03 2018 Wednesday ,24 January
German investor confidence surges in JanuaryMaintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Send your comments
Your comment as a visitor