Business News

Central Bank Forecasts 1.9% Contraction for 2013

Ljubljana, 02 April (STA) - Slovenia's central bank forecasts that the country's economy will shrink by 1.9% this year, a downgrade from the 0.7% contraction it projected in autumn, according to the Macroeconomic Trends and Projections report released on Tuesday.

The projection is in line with last week's forecast by the Institute of Macroeconomic Analysis and Development, a government think-tank whose figures are used by the government in budgeting.

Foreign forecasters have made similar projections, with the International Monetary Fund (IMF) and the EU both forecasting a 2% contraction and the Organisation for Economic Cooperation and Development (OECD) projecting a 2.1% decline in GDP.

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