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Slovak economy expected to achieve highest rate of growth since 2010

Xinhua, June 18, 2015 Adjust font size:

Slovakia's economy is expected to achieve its highest rate of growth since 2010 this year at a level of 3.2 percent, announced Slovak Finance Minister Peter Kazimir on Wednesday.

"We confirm what we've been claiming for several weeks. Our ambition is to conquer 3-percent economic growth this year and to attack the 4-percent level next year," Kazimir said at a press conference.

Regarding unemployment figures, the rate is predicted to stand at 12.1 percent this year and to fall to 11.3 percent next year.

"The labor market has been developing very well. We'd like to knock down the 12-percent level this year," said Kazimir, adding that risks for the development of the domestic economy are the conflict in Ukraine and unfavorable scenarios regarding developments in Greece. Nevertheless, there are factors that could contribute to the country's economic growth.

"Juncker's package could bring a great deal of investments, and oil prices could go down in relation to Iranian oil coming on the market after the sanctions program has ended," Kazimir said. Endit