Business News

IMF Downgrades Slovenia's Economic Growth for 2010

Washington, 06 October (STA) - The International Monetary Fund (IMF) downgraded on Wednesday its projections for Slovenia's economic growth for this year by 0.3 percentage points to 0.8%. It meanwhile improved its projections for 2011 from 2% to 2.4%.

The IMF predicted a 1.1% growth for Slovenia for 2010 and a 2% growth for 2011 in its April report. In 2009, the Slovenian economy shrank by 7.8%.

Inflation should reach 1.5% this year and 2.3% next year. The current account deficit, which last year stood at 1.5% of GDP, will be halved to 0.7% of GDP in 2010 and 2011.

The unemployment rate, standing at 6% in 2009, will increase to 7.8% this year and rise to 8.1% in 2011, according to the latest IMF report.

The IMF predicts a 4.8% growth of the global economy for 2010 and a 4.2% growth for 2011. The emerging economies will record a 7.1% growth, while the developed countries will grow at a 2.7% rate.

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