slovakian economy coming out of recession faster than most
News Posted On: 10 March 2010
Slovakia's economy continues to show impressive resilience to the continued economic doom and gloom. After seeing among the highest levels of GDP growth in the second and third quarters of last year, it has surpassed itself with the second biggest GDP growth in the first quarter of this year.
According to new data released by Eurostat, Slovakian GDP was 2% larger in the final quarter of last year, than it was in the third quarter, making it now just 2.7% smaller than it was in the same period the year before.
The fact that the annual figure is still showing a deficit is a reflection of the quite severe contraction felt by Slovakia as the crunch struck Europe. However, this is nothing to be ashamed of, and the fact that Slovakia has been among the fastest out of recession, and with some of the best growth figures is most certainly something to be very proud of.
The fact is Slovakia has a great government, which has a strong track record for sound fiscal and monetary policy decisions. This stood it in good stead to weather the financial storm, giving the government there more room to manoeuvre in terms of budgetary deficits etc.
Given this reality, Slovakia property should be seeing some strong interest from foreign investors, but the country is largely being overlooked by the risk-averse bunch, who are avoiding emerging markets based on nothing else than they are not established markets. This is a low risk investment strategy, which will bring equally low returns (for the most part).
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