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In addition, the Office expects that economic growth will reach 6.2 percent in 1H06.


The economic-growth rate rose significantly in 2H05. In 3Q05 it reached a level of 6.2 percent, while in 4Q05 it represented 7.5 percent.


This growth influenced the average nominal monthly salary in Slovakia, which reached Sk17,274 per month, up by 9.2 percent y-o-y. According to Statistics Office projections, the average nominal monthly salary should increase to Sk17,660 per month in 1H06.


Meanwhile, real salaries rose by 6.3 percent y-o-y, reaching their highest level in the past nine years.


There was also positive development last year in terms of inflation, which stood at 2.7 percent - the lowest level in Slovakia's history.


The development of the Slovak economy was also influenced by the growth of employment, which increased for the fifth year in a row. Altogether, 2.213 million people were employed in the Slovak economy. On December 31, 2005, labour offices were offering 13,206 available jobs.


The unemployment rate fell by 1.9 percentage points to 16.2 percent, while in 4Q05 it was 15.3 percent. The Statistics Office predicts that the unemployment rate should reach 15.5 percent in 1H06.


Slovakia's budget deficit for 2005 was Sk33.6 billion. Revenues stood at Sk258.7 billion, up by 6.7 percent y-o-y. Expenditures reached Sk292.6 billion, down by 6.4 percent.


In 2005, Slovakia had a population of 5,389,160 - 51.5 percent of which was made up of women. According to preliminary demographic data, 54,410 children were born in Slovakia last year. Natural population growth fell from 960 in 2004 to 935, while total population growth, including the effects of migration, was 4,338 people.

source: TASR.sk�