BRATISLAVA, July 9, (WEBNOVINY) — Slovakia will feel the impacts of the debt crisis on its economy in the upcoming years, too. In its regular summer prognosis, Ernst & Young predicts Slovakia’s economic growth at 1.7 percent this year and at 2 percent next year. In the following three years, Slovak economy could grow by a little over 4 percent. Last year, GDP growth of the Slovak Republic was 3.3-percent .
It is expected that Slovakia’s export-oriented economy in 2012 will not avoid a slowdown of growth, as the sovereign debt crisis in the eurozone has been weakening regional demand for long-term goods, such as vehicles and electronic devices. This development will negatively affect investments and employment, while consumer demand will weaken, too, commented Dalimil Draganovsky, a partner of Ernst & Young in the Slovak Republic.
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