Business News

EU Commission lowers Slovenia's 2019 growth forecast by 0.6 p.p. to 2.6%

Brussels, 07 November (STA) - The European Commission forecast on Thursday 2.6% GDP growth for Slovenia in 2019 and 2.7% in 2020 and 2021, a downgrade of 0.6 and 0.1 percentage points respectively compared to its spring forecast. "Growth is cooling down but remaining robust," the Commission wrote.

Economic growth in Slovenia slowed down in the first half of 2019 on the back of weakening foreign demand, and it is expected to remain broadly stable over the forecast horizon, the report says.

Domestic demand is expected to remain strong. Inflation is projected to increase slightly in the coming two years. The government budget balance is forecast to remain in surplus, with a slightly improving structural balance position in the coming years after a deterioration this year.

The Commission projects a 0.5% of GDP general government surplus for this and the coming year, and 0.6% for 2021. In May, the Commission had forecast a surplus of 0.7% of GDP for this year and 0.9% for next year.

The structural deficit is expected to stand at 1% this year, at 0.9% in 2020, and at 0.7% in 2021. In May, the Commission projected 0.8% for 2019 and 0.3% in 2020.

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