IMF Raises Growth Forecasts for Slovenia

By , 09 Oct 2018, 16:50 PM Business
IMF Raises Growth Forecasts for Slovenia imf.org

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STA, 9 October - The International Monetary Fund (IMF) has upgraded its economic outlook for Slovenia, forecasting 4.5% growth for this year and 3.4% for next year. This is up 0.5 and 0.2 percentage points from its spring forecast, respectively. 

The IMF published its latest growth report before the outset of the regular sessions of the IMF/World Bank, which are held in Bali, Indonesia.

Slovenia is forecast to have a 5.8% unemployment rate in 2018 and 5.4% in 2019. Both figures are by 0.1 points lower than in spring.

Inflation is forecast to hit 2.1% this year, up from 1.7% from the previous forecast, while the figure for 2019 was left unchanged at 2%.

The IMF's forecast is a bit above that of Slovenia's Institute for Macroeconomic Analysis and Development (IMAD), which significantly downgraded its outlook in September.

According to IMAD, Slovenia's economy will grow at 4.4% in real terms this year, down 0.7 points from the spring forecast.

IMAD's forecast for 2019 was meanwhile downgraded to 3.7% from 3.8%.

Both the IMF and IMAD's forecasts are within the range forecast by the Slovenian central bank in August, when it anticipated a 4.0% to 4.5% growth rate for 2018.

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