Boom Period Over For Industrial Sector

While we expect a bounce back in 2010, industrial production growth in Slovakia will settle below pre-crisis levels thereafter. Demand from key export markets in Western Europe is expected to remain weak and the country faces increasing competition for new investment projects from faster growing emerging markets in Eastern Europe. This supports our view for Slovak economic growth to trend lower going forward, averaging 3.0% over our five-year forecast period, compared to 7.4% prior to the recession.

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