Weak euro impacts Slovak economy

The weak euro is having increasing effects on the Slovak economy, with the current rate giving exporters a real boost, states a Tuesday report from the Pravda daily. Slovakia's economy is closely linked to this factor, and the exchange rate could add an extra 0.8 percentage points to GDP growth this year. Conversely, the cost of imported goods, such as electronics, has increased and holidays in locations beyond the eurozone have likewise become more expensive. As for further developments, much will depend on what happens in the rest of Europe, and in Greece in particular. If fears concerning Europe's economic recovery and Greece's future in the eurozone prove unfounded, the euro could recover very rapidly, notes the daily. It appears that the weak euro may also help to create new jobs in Slovakia. Current predictions envisage at least 22,000 new vacancies this year, and if the euro drops further to around 0.85 US dollars per euro by the end of 2017, as believed possible by Deutsche Bank, unemployment in Slovakia could even drop below 10 percent.