Slovakia will revise down its economic growth forecast for 2009 to near the 2.7% predicted by the EU, the country's finance minister Jan Pociatek has said.

The ministry's previous forecast was that GDP growth would be 4.6% in 2009 and this was the basis on which the government's budget was worked out. The new forecast is expected to be published officially early next month.

The country, which entered the Eurozone at the start of this year, is also planning coordinated measures to stimulate its economy.

Prime minister Robert Fico met with the country's president, Ivan Gasparovic, and Parliamentary chairman Pavol Paska on Friday.

The fiscal stimulus would be provided by savings or by raising the public-finance deficit, the prime minister said. "But we've definitely ruled out lowering taxes," he added.

The premier also said an Economic Crisis Committee will be established and will include several ministers and members of the Slovak central bank, employers representatives, trade unions, leaders from the banking sector and local authorities. The committee's main task will be to assess the crisis and its affects on Slovakia.

Robin Bowman