NBS Keeps Latest Outlook for 2017 Growth Unchanged at 3.1 percent

NBS headquarters in Bratislava (Stock photo by TASR)

Bratislava, January 31 (TASR) – The Slovak economy is expected to grow by 3.1 percent this year before picking up momentum and posting growth of 4.2 percent next year and 4.6 percent in 2019, TASR learnt from the updated mid-term forecast that Slovakia’s central bank (NBS) released on Tuesday.

The prognosis remained the same as in December, even after NBS took the latest information into account. This included, most notably, GDP growth composition in the third quarter of 2016 and a range of domestic and foreign monthly indicators, as well as expectations regarding commodity prices and currency exchange rates.

Inflation is expected to grow in tandem, as consumer prices are forecast to rise by 1.2 percent this year, by 1.8 percent in 2018 and by 1.9 percent in 2019.

NBS also envisages a stronger influence of economic developments on job creation, which is expected to propel growth in employment by 1.6 percent. The unemployment rate could shrink to 7.3 percent as of the end of 2019.