Slovakia will most likely have to revise its economic growth projection for 2015, which is currently at 3 percent of GDP, due to EU's sanctions against Russia, Finance Minister Peter Kažimír said on Wednesday.
“Their direct impact on Slovakia isn’t that serious- expressed in a few millions of euro- but the indirect effects are more serious, as they concern the economic potential of our trade partners; I mean the drop in economic growth in Germany, and subsequently in Austria and the Czech Republic, which also have been stagnating,” said Kažimír. Slovakia’s economy grew slightly faster in the second quarter of this year. According to the latest data of the Slovak Statistics Office, gross domestic product in the monitored period went up 2.5 percent, thus accelerating by 0.1 percentage points from the previous quarter. A boost in domestic consumption is behind such a performance.
