BRATISLAVA, May 25, (WEBNOVINY) – Banking houses continue revising upward their outlook of economic development in Slovakia this year. According to results of the May round of a regular survey of the National Bank of Slovakia (NBS) among bank analysts they have revised the prognosis of this year’s economic growth by 0.5 percentage points from April to 1.9 percent. This time bankers’ predictions were mainly encouraged by preliminary results for the first quarter of this year according to which the economy grew 3.1 percent while banks‘ expectation was just 1.8 percent. Banks increased their growth estimate for next year more marginally, by 0.1 percentage points to 2.8 percent.
Similarly as in the previous months analysts revised upward not only their economic growth estimate but also the prognosis of the growth of consumer prices. Harmonized inflation should thus achieve 3 percent at the year’s end while in April they predicted prices to grow 2.9 percent. In contrast banks modestly reduced their estimate of the growth of consumer prices for 2013, by 0.1 percentage points to 2.8 percent.
Expectations of bank analysts are thus gradually nearing to more positive estimates of relevant Slovak institutions. The National Bank of Slovakia (NBS), for instance, predicts a 2.1 percent growth for Slovakia this year and the Finance Ministry speaks about 2.3 percent. Currently banks are even more optimistic than the European Commission that revised upward its estimate of Slovakia’s economic growth from 1.1 percent to 1.8 percent earlier this month.
SITA
