News: Slovakia 'soaring'

Wed, 03 Oct 07

After record growth in the last year the Slovak economy grew by spectacular 9.4% y/y in QII 2007, according to the Slovak Statistical Office. This represents a 2.7% faster growth than in the same period last year...

The average monthly wage in Slovakia reached 19,598 SKK (582 euro) in QII 2007, an increase of 6.7% y/y (figures from the Slovak Statistical Office).

Meanwhile, Eurostat (EU Statistics Office) states that hourly labour costs in the country grew by 7.9% y/y in QII 2007. The highest increase was reported in civil engineering (9%), industry (8.1%) and services (7.4%). Of this the indirect costs (social and health insurance contributions) paid by employers increased by 8%, while direct payroll costs grew by 7.8%.

In the first six months of this year 6,536 homes were built in Slovakia. This represents an increase of 949 units compared to the same period in 2006. (5,383 units were built by the private sector, 1,153 by the public sector.) Of these, 3,542 housing units were in family houses and the rest in apartment blocks.



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