Slovak economy still fueled by domestic demand: experts

Source: Xinhua| 2017-08-17 03:14:38|Editor: yan
Video PlayerClose

BRATISLAVA, Aug. 16 (Xinhua) -- Slovak analysts say robust household consumption has bolstered Slovakia's economic growth, which was 3.3 percent year on year in the second quarter of 2017.

The Slovak Statistics Office published a preliminary gross domestic product (GDP) growth estimate on Wednesday.

"We have the falling unemployment rate and growth in employment and real salaries in mind here. This is contributing to higher disposable incomes for households," said Katarina Muchova of Slovenska Sporitelna bank, naming the domestic demand, especially household consumption, as the key instrumental in this growth.

Lubomir Korsnak, analyst with the UniCredit bank, believes the rising domestic demand has probably come partly on the back of investments.

"We suppose that both the state and private spheres benefited from the recovery in investments," said Korsnak who holds an optimistic outlook for the Slovak economy.

"The Slovak economy should continue to be buttressed by ever stronger household consumption, which is fuelled by a robust labour market and improved consumer confidence along with the continued cyclical recovery of European economies, which should drive Slovak exports higher," concluded Korsnak.

TOP STORIES
EDITOR’S CHOICE
MOST VIEWED
EXPLORE XINHUANET
010020070750000000000000011105521365316331