The Slovak Central Bank has forecast that real Gross Domestic Product should grow by 0.9 percent this year, which is 0.3 points more than the previous estimate. Vice Governor Jan Tóth said that the revised outlook for economic growth this year is primarily based on the positive development of the economy in the second quarter, which exceeded initial expectations on both exports as well as in private consumption.
The Bank, however, slightly reduced the GDP growth outlook for the coming years. The new figure for the next year is 2.1 percent and 3.2 percent for 2015. For the coming years the central bank took into account in particular, the negative impact of fiscal consolidation, and also lower expectations regarding external demand.
Anca Dragu
