Slovak GDP picks up pace in 2015

Slovak GDP picks up pace in 2015

Published at: 2015-02-04 10:45 | Author: CIJ Journal
Slovakia's finance ministry has upgraded the country's growth pr ospects, raising its GDP predictions for 2015 from 2.6 to 2.9 percent. At the same time, the ministry hinted that lower unemployment and falling inflation could also be on the way. The biggest driver of economic growth is coming from strong consumer demand thanks to rising real wages and an improving employment environment. In addition, reduced petrol prices are leaving more money in the wallets of families. Slovakia's finance minister Peter Kažimir, however, said that the lack of inflation meant that tax revenues would not benefit. GDP growth in 2014 reached 2.4 percent and was driven primarily by exports.

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