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New investments in automotive production to boost Slovak economy

Xinhua, March 28, 2017 Adjust font size:

The starting of production of the Jaguar Land Rover Plant in 2018 will significantly boost the Slovak economy, according to the latest medium-term estimation released by the Slovak Central Bank (NBS) on Tuesday.

"Positive stimuli in the form of new investments in automotive production are projected to work towards an acceleration in growth to 4.2 percent in 2018 and to 4.6 percent in 2019," announced NBS governor Jozef Makuch on the same day.

Turning to the labor market, NBS has upgraded its forecast regarding this year's employment growth to 2 percent.

"The unemployment rate is expected to hit its lowest ever level of 6.9 percent in 2019," Makuch said.

Makuch warned the economy might begin to show signs of overheating next year. Endit