NBS projects 3.3% economic growth for Slovakia in 2011

Yesterday the National Bank of Slovakia released its latest figures concerning economic growth projections for the country, quoting a 3.3% growth this year. The latest projection is slightly up on the December figure of 3%, which shows positive signs of economic recovery.

Head of the NBS policy department Renata Konecna is quoted by TASR newswire as saying that infrastructure projects will boost the economy this year, while the government’s consolidation measures could hold things back. She also pointed to external influences like the situation in Japan, which could swing things either way.

Carmakers in Slovakia, particularly Peugeot-Citroen plant in Trnava, are already having problems with getting components that were supplied from Japan, so this in itself could slow down production output in Slovakia’s biggest sector. The situation in Japan combined with the turmoil in various countries of North Africa will also have an impact on oil, gas and petrol prices, which in turn affects other prices and so economic growth.

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