Slovakia leaps out of recession
On 12 May the Slovak Statistical Office announced that in the first quarter of 2010 the Slovak GDP has increased by 4.5% year on year, which probably constitutes the best result in the EU (Poland has not yet revealed its quarterly statistics). The data shows that after the deep recession of 2009 (a decrease in GDP of 4.7%) Slovakia has entered a period of a high economic growth rate. This is confirmed by the EC’s forecasts for April, according to which Slovakia will be the most dynamically developing EU country in 2010 (an expected growth of 2.7% of GDP).
The Slovak economy (similarly to the Polish one) has been growing decidedly faster than the economies of other EU countries from Central and South-Eastern Europe. Besides Slovakia and Poland, only the Czech Republic noted an increase in GDP (1.2%), whereas the remaining states are still struggling with the recession – Hungary (-0.8%), Estonia (-2.3%), Romania (-2.5%), Lithuania (-2.8%), Bulgaria (-4.0%), Latvia (-5.1%).