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The economy is likely to slow down due to the weak euro area performace

The effects of the debt crisis have been intensified and the economies of our main trading partners have slowed significantly. In 2012, its impact was cushioned by the new production capacities in the automotive sector. In 2013 the Slovak economy will be fully exposed to the weak foreign demand and growth should slow to 1.2%. Household consumption will be dampened by the slow wage growth and rising unemployment. In the following years, as the global recovery will speed up, the economy should be slowly getting back to growth around 3%.