The Governor of the National Bank of Slovakia (NBS), Ivan Sramko, thinks that Slovakia might start meeting the Maastricht inflation criterion as early as this month. According to him, data on development of consumer prices, according to national methodology released by Slovakia's Statistics Office last week, suggest as much. "I suppose that the harmonized index will come close fulfilling the twelve-month average, which means that we will meet the inflation criterion by the end of the month. Figures that we have received quite seriously support to these words," said Mr. Sramko after Wednesday's Cabinet session.
Mr. Sramko believes that a detailed analysis to be published by the Statistics Office in September will show what is behind the 9.2 percent economic growth of the second quarter of this year, about which the Statistics Office reported in its flash estimate on Tuesday. "If this growth confirms the previous structure, it may be considered healthy and sustainable, which means that as long as foreign export is a substantial part, serious economic imbalances need not be expected," stated the NBS governor. He views overall economic growth as positive and, if its structure does not change, also as sustainable. "We expect continued growth in coming quarters, as well," concluded Mr. Sramko.
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