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IMF Downgrades Slovenia Growth Forecast to 2%

Washington, 11 April (STA) - The International Monetary Fund (IMF) downgraded its projections for Slovenia's economic growth in 2011 from 2.4% to 2% on Monday. It also forecast economic growth of 2.4% in Slovenia in 2012.

The projections for economic growth in Slovenia for the two years are somewhat above the eurozone average, where economic growth is anticipated to stand at 1.6% in 2011 and 1.8% in 2012.

Moreover, a long-term prediction for 2016 shows a similar picture, with the predicted growth in Slovenia standing at 1.9% and the eurozone average at 1.7%.

Regarding the biggest economies of the EU, the IMF predicted that Germany would record 2.5% growth in 2011 and 2.1% in 2012, while Spain would grow 0.8% this year and 1.6% the next.

Among the three eurozone members receiving or waiting for EU aid to deal with their mountains of debt, Portugal is facing a contraction of 1.5% in 2011 and 0.5% in 2012, Greece a contraction of 3% this year and moderate growth of 1.1% next year and Ireland growth of 0.5% in 2010 and 1.9% in 2011.

Slovakia (3.8% in 2011 and 4.2% in 2012) and Estonia (3.3% and 3.7%), the newest of the eurozone members, are both projected to record a faster growth of economy than Slovenia.

Among the former Yugoslav countries, the IMF predicted the fastest growth for Serbia (3% in 2011 and 5% in 2012) and the slowest for Croatia (1.3% and 1.8%).

Inflation in Slovenia is projected to stand at 2.2% this year and 3.1% next year, while the average for the eurozone is anticipated to stand at 2.3% in 2011 and 1.7% in 2012.

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