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Economic Growth Creates more Jobs
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Wednesday, 01 June 2005
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An encouraging macroeconomic performance has started to be reflected in Slovak citizens’ lives, the Hospodárske Noviny business daily reported.
Growth in the gross domestic product (GDP) is not only raising the average level of wages but having a positive effect on the unemployment figures too. This can mainly be attributed to the surge in Foreign investment since various government reforms over the lest few years.
During the first three months of the year, GDP grew by five percent and the employment rate grew by two percent. With domestic demand and exports being the main drivers, GDP growth in 2004 was unexpectedly strong at 5,5% and 5,8% yoy for Q4. Inflation declined steadily last year helped by the appreciating currency. Source: Hospodárske Noviny business daily
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