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Slovakia Business Forecast Report Q1 2013

763.59

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Electronic License

Electronic License

An electronic version (mostly PDF, but can be Excel or PPT), which is either available for immediate download or will be sent via email by the Publisher of the report. The licencing for an electronic version is for use by the purchaser ONLY.

£763.59

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Market

All Sectors

Report Type

Country Guide

Country

Slovakia

Published

13 December 2012

Number of Pages

53

Report Delivery

Download

Delivery Lead Time

Immediate

Publisher

Business Monitor International

File Format

PDF

We continue to expect Slovakias economy to expand by 2.5% in real terms in 2012, slowing to 2.0% in 2013, with growth largely driven by export performance. Household and government consumption are expected to remain weak due to austerity conditions and structural unemployment.

While fiscal slippage risks remain, we have revised our forecasts for Slovakias fiscal deficit following the release of the governments 2013 budget, and now forecast a deficit equivalent to 3.0% of GDP in 2013, from a previous forecast of 3.3%, thereby fulfilling the EU fiscal treaty criteria.

Major Forecast Changes

We have revised down our forecasts for Slovakias current account balance in 2012 and 2013 on the back of weaker external demand.

We expect Slovakias current account to post a surplus in 2012, coming in at 0.7% of GDP, from a previous forecast of 1.7%, and 0.1% of GDP in 2013, from a previous forecast of 1.5%.

We have revised up our real GDP growth projections for 2012, which we now forecast at 2.5%. However, drilling down into the breakdown of expenditure confirms our view that net exports is now the sole remaining driver of growth for Slovakia, with household and government consumption flat.

Key Risks To Outlook

Downside Risk To Growth Outlook: Slovakias heavy dependence on the external sector for its economic growth presents a key downside risk to our forecasts. Indeed, a significant slowdown in external demand, in particular from Germany, would impact heavily on Slovakias export-led economic recovery.

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Select License Type

Electronic License

Electronic License

An electronic version (mostly PDF, but can be Excel or PPT), which is either available for immediate download or will be sent via email by the Publisher of the report. The licencing for an electronic version is for use by the purchaser ONLY.

£763.59

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USD

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