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Slovak economy to grow by 2.9 pct in 2015: IFP

Xinhua, February 4, 2015 Adjust font size:

The Slovak economy is expected to grow by 2.9 percent in 2015, Slovak Finance Minister Peter Kazimir said on Tuesday, citing forecast from his ministry's Finance Policy Institute.

"The revival of Slovakia's economy continues at a sound pace, despite significant problems in the external environment, mainly in the eurozone," Kazimir told a press conference.

"Our small open economy remains stable, with investors trusting us, and we're quite optimistic when it comes to future outlooks," he added.

Robust household consumption will become the main factor pulling the national economy up in 2015.

"The growing household consumption is a result of continuing good developments on the labour market, with positive consumer sentiment," Kazimir said, adding low energy prices, especially those for oil, will become another factor to contribute to Slovakia's economic growth.

Thanks to zero inflation and improved condition of the labour market, real incomes will grow. Meanwhile, investment growth will be driven mainly by the private sector.

"We expect better developments in Slovakia's economy in 2015 than what has been seen in recent months. We also expect the stability of the legislative environment to have positive effects," Kazimir said. Endit