Business News

D&B Fears Another Economic Downturn in 2010

Ljubljana, 05 January (STA) - The rating firm Dun&Bradstreet expects Slovenian economy to expand at a $healthy pace going into 2010$, there is however a risk of a new slowdown during the year.

D&B noted it its latest country credit rating report that the growth of Slovenian economy accelerated in the third quarter of 2009.

While the demand of Slovenian households shrank, exports were on a rise again in the the third quarter. Added value in the manufacturing sector recovered somewhat, while in construction and trade it continued to fall.

The rating firm said that Slovenian manufacturing benefited above all from increased demand in Germany and European car industry, but noted that the situation could change after the effects of stimulus packages run out.

D&B also pointed to growing unemployment, especially in manufacturing, growing dissatisfaction among workers and pensioners, and Prime Minister Borut Pahor's concerns about expected weak economic growth.

D&B also highlighted Transparency International's latest Corruption Perceptions Index which put Slovenia among the least corrupted countries in Central and Eastern Europe together with Estonia.

Slovenia's rating remains DB2c, which means low level of risk. The rating is labelled as stable.

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