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Posted by on 22 Mar 2012. Filed under Business, Top news. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

IFP Forecasts 2.3% Economic Growth For 2012

photo (c) The

According to the latest flash estimate of the Financial Policy Institute (IFP) of the Ministry of Finance, the Slovak economy looks set to enjoy more favourable growth this year than previously projected.

A press release of the Financial Policy Institute (IFP) provided to The yesterday, now puts the likely GDP growth of the country at between 1.9% – 2.6% with the mid-ground of 2.3% being given as the most likely scenario. The resulting effect of this will be only a slight increase of EUR 53 million in public finance revenues, however, due also to weaker excise tax collections.

The new forecast was boosted by positive growth in exports at the end of 2011, as well as by favourable outlooks for Slovakia’s main trading partner Germany and signs of revival on the European bond and stock markets. Slovakia enjoyed 0.9% growth in 4Q 2011, which translates as 3.4% year-on-year growth. The full report in Slovak can be viewed here.

1 Comment for “IFP Forecasts 2.3% Economic Growth For 2012”

  1. StaryJazvec

    Provided the entire ClubMed zone doesn’t go broke this year…

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