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Slovak foreign direct investment drops 11pc in 2012

US45BRATISLAVA: Foreign direct investment in Slovakia dropped by 11 percent last year to 466 million euros ($610.25 million), the government's investment agency said on Friday, with projects worth 800 million euros in the pipeline.

 

Investments in the euro zone country were directed mainly into the automotive and manufacturing sectors, both key drivers of the exports on which the small and open economy relies.

 

Slovakia saw FDI projects jump fourfold to 518 million euros in 2011 but has since has started to feel the effects of the bloc's protracted debt crisis.

 

Foreign investment is vital for growth, which the central bank sees slowing to 1.6 percent this year from 2.4 percent in 2012, and to tackle unemployment which is at an eight-year high.

 

Center>Copyright Reuters, 2013