slovakia economy looks likely to avoid recession
News Posted On: 17 August 2009
There was a great big fuss last week when Eurostat revealed that Germany and France had returned to economic growth in Q2 of this year. Both saw GDP grow by 0.3%.
Okay, France and Germany are 2 of the EU's largest economies, but meanwhile, quietly and in the background Slovakia's GDP grew by 2.2% in Q2. Admittedly Slovakia's GDP had contracted by 11% in Q1, but as that was its first contraction this means that Slovakia is yet to fall into recession -- and with the EU now seemingly on a recovery path it may manage to avoid recession altogether.
Liam Bailey of sector specialist copywriting company Write About Property said:
"This is great news for Slovakia and for me. A few months back I conducted research into the EU's emerging markets for overseas property portal Property Abroad.com and deemed Slovakia to have the best prospects for continued growth throughout the recession, which along with the low price of property in the country made it an excellent property investment destination."
Despite its recent adoption of the Euro, Slovakia offers some of the lowest priced property in Europe. Like many countries in the region it also offers a vast and varied choice of properties from rural cottages and farm-houses to off plan ski-resort apartments.
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