Slovak Growth To Remain Robust

Slovak economic growth will continue to outstrip that of other central European countries over the long term, with recent third quarter GDP data (at 9.4% y-o-y) in line with our view for strong 8.5% growth in 2007. That said, we maintain that 2007 is likely to be 'as good as it gets' with steady declines in growth levels through to 2011 reflecting a shift in growth drivers from export-oriented production to domestic consumption.

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