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Slovak, Central European economy forecast

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  • Martin Votruba
    The European Commission has released its revised economic growth (slump, rather) forecasts. The predicted unemployment in the 26-member European Union
    Message 1 of 1 , May 4, 2009
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      The European Commission has released its revised economic growth (slump, rather) forecasts. The predicted unemployment in the 26-member European Union (including Slovakia) is 10.9 percent (p.c.); in the subset of the 16 countries that use the euro (including Slovakia), the EC predicts 11.5 p.c. The GDP should shrink in both the EU and the eurozone by 4 p.c.

      Here are the revised forecasts for Central Europe (minus Switzerland, which is not in the EU). Despite the predicted higher unemployment in Slovakia and Poland, the two countries are also expected to slump less and grow more, which also happened to be Slovakia's situation by the beginning of the 21st century when the unemployment rate was almost 50 p.c. higher than what's predicted now while its GDP growth was a multiple of the 2010 prediction.


      2009 and 2010 GDP

      -1.4 _ +0.8 Poland
      -2.6 _ +0.7 Slovakia
      -2.7 _ +0.3 Czech R.
      -4.0 _ -0.1 Austria
      -5.4 _ +0.3 Germany
      -6.3 _ -0.3 Hungary


      2009 and 2010 unemployment

      12.0 _ 12.1 Slovakia
      _9.9 _ 12.1 Poland
      _9.5 _ 11.2 Hungary
      _8.6 _ 10.4 Germany
      _6.1 _ _7.4 Czech R.
      _6.0 _ _7.1 Austria


      Martin
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