The Organization for Economic Co-operation and Development (OECD) forecasts in its latest prognosis that the growth dynamics of Slovakia’s economy will speed up and will have a broader boost thanks to increased domestic demand.
The OECD foresees the bolstering of domestic demand this year and assumes that it will stay high in 2015 and 2016 due to growth of employment and wages. Exports and investments will come up as a result of improved international environment. Based on the OECD’s fall prediction, the pace of GDP growth in Slovakia will accelerate from last year’s 1.4 percent to 2.6 percent in 2014. Bank analysts again mildly trimmed down the estimate of Slovak economic growth for this year. After forecasting an acceleration of 0.1 percentage points to 2.4 percent in October, they soon returned to the September estimate of 2.3 percent for November.
