Macroeconomic Forecast Slovakia

Slovakia's current account deficit came in at EUR1.74bn in 2009 (3.1% of GDP) down from EUR4.21bn in 2008 (6.6% of GDP) and was primarily driven by the trade account which flipped from a deficit of EUR0.69bn in 2008 to a surplus of EUR1.19bn in 2009. With domestic demand expected to remain subdued, and forecast exports to grow moderately in 2010, we forecast the current account deficit narrowing further to 1.8% of GDP in 2010.

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