Economic growth continues with increases in employment

Last update: 29.11.2005 06:00

The Slovak economy grew by 6.2% in Q3 2005. Gross national product in the volume of SKK 365.5 billion was created in Slovakia in the third quarter. According to a provisional estimate from the Statistical Office of the Slovak Republic, the Slovak economy grew year-on-year by 6.2% in real terms in the third quarter of the current year.

“Living standards cannot be improved without economic growth. We have got a high dynamic of economic growth in Slovakia and once again it is the highest in the Central European region.” stated Ivan Mikloš, Deputy Prime Minister and Minister of Finance of the Slovak Republic.

“I am really pleased that the continuing high GNP growth has also been positively reflected in developments in employment. We can say that, compared to the previous year, there are 20,000 more jobs and during the last three years job numbers have increased by 80,000. I believe that if we succeed in maintaining positive results from the reforms and in building on them in the future, employment will grow together with the standard of living in the near future.

According to an initial estimate from the Statistical Office of the Slovak Republic, the Slovak economy grew year-on-year by 6.2% in real terms in the third quarter of this year. Slovakia’s gross national product recorded a growth of 8.5% in current prices. GNP in the volume of SKK 365.5 billion was created in Slovakia in the third quarter.

After adjusting the results for seasonal effects, GNP in the volume of SKK 219.7 billion in fixed prices was created in Slovakia in the third quarter and compared to the same period in the prior year it grew by 5.8%.