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Press Release

21.09.17

The Autumn Forecast predicts 4.4% GDP growth for this year

At today’s session, the government adopted the 2017 autumn forecast of economic activity, which predicts a continuation of positive economic trends this year and next.

  

The Autumn Forecast predicts 4.4% GDP growth for this year; in the next two years the broad-based economic growth will continue, hovering between 3% and 4%. The forecast is based on assumptions of stable economic conditions at home and internationally and favourable expectations. The key drivers of this year’s faster growth are the high growth of exports and the dynamics of government investment; this is expected to increase this year after dropping substantially in 2016. In the next few years economic growth will be increasingly affected by demographic factors, which will show particularly in lower growth in employment and, consequently, in disposable income and private consumption. 

  

The government also adopted the draft Motor Vehicles Act and submitted it to the National Assembly for adoption under the regular procedure. The act comprehensively regulates the conditions for placing motor vehicles and trailers on the market, for their registration and use in road transport or in farm or forestry work (tractors), and the conditions applying to the keeping of vehicle databases. It also regulates the conditions for placing vehicle parts and protection devices for drivers and passengers on the market, all procedures for determining the conformity of vehicles, and the conditions that must be met by legal persons and sole traders acting in such procedures on the basis of authorisations.

  

The government has also defined the text of the draft Real Estate Property Mass Valuation Act, which replaces the draft act discussed and approved by the government in July this year. The changes were solely of a technical nature and were required in order to enable the smooth commencement of the act’s adoption at the National Assembly. The content of the act has not changed at any point.

  


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