BRATISLAVA, November 16, (WEBNOVINY) — The decline of the Slovak economy in the crisis year of 2009 was moderately deeper than the Statistics Office originally informed. It revised the data on the GDP development for last year increasing the last year’s deceleration of the GDP growth by 0.1 percentage points to 4.8 percent. Moreover, it revised down the economic growth in 2008 from the original 6.2 percent to 5.8 percent. According to revised information, GDP went up 8.9 percent in current prices in 2008 while it dropped 5.9 percent a year later.
Following years of high economic growth the country experienced a drop in GDP last year. Owing to impacts of the global economic crisis and a rapid drop in foreign demand, the country’s open economy showed a record y/y fall in GDP in all four quarters of 2009. The GDP started growing just this year when according to latest statistical data Slovakia’s economy posted a 4.7-percent growth over the first quarter and grew 4.2 percent in the second quarter. The flash estimate of Q3 result speaks of a 3.7-percent growth.
SITA
