The Slovak finance ministry raised on June 16 its 2014 GDP growth forecast to 2.4% from 2.3% expected in February thanks to improving conditions on the labour market and a better-than-expected revival of exports. It retained its 2015 growth forecast at 3.0%.
The ministry now expects household consumption to grow 2.4% this year, up from 1.2% projected in February, thanks to increasing employment and higher real wages. It raised its export growth outlook to 6.7% from 4.0%, citing positive developments in its main trading partners, chiefly Germany.
Inflation is expected to remain low thanks to lower production costs and last year’s good harvest which led to a decline in food prices on the domestic market. The finance ministry forecasts inflation to reach 0.3% this year and accelerate to 1.6% next year.
Slovakia's central bank also sees the GDP growing by 2.4% this year. Earlier this year, the European Commission said it expects Slovakia’s economy to expand by 2.2% in 2014. The International Monetary Fund (IMF) sees a 2.3% growth in 2014.
Slovakia's annual economic growth accelerated to 2.4% in the first quarter of 2014 from 1.5% in the previous three months, supported by rising exports and domestic demand. In 2013, the country’s economy rose by 0.9%.
An explosion at the site of Austrian OMV’s Baumgarten natural gas hub has interrupted gas transit to Italy, Slovenia and Hungary, the Austrian government’s electricity and gas markets regulator ... more
CEFC, the acquisitive Chinese energy group, and Penta Investments, the closely-held Slovak financial group, are bidding together for Time Warner’s stake in Central European Media Enterprises (CME), ... more
A group of Slovak and Czech oligarchs are reportedly interested in buying regional media and entertainment company Central European Media Enterprises, the Slovak Spectator reported on November 8. ... more