Business News

IMF Forecasts 1.1% Growth in 2010

Washington, 21 April (STA) - Slovenia's economy will grow by 1.1% this year, the International Monetary Fund (IMF) has said in its latest forecast. This is a 0.4 point upgrade on the October 2009 projection.

According to IMF estimates released in Washington on Wednesday, growth is expected climb to 2% in 2011 as part of a recovery following the 7.3% contraction in 2009.

Slovenia's inflation will rise to 1.5% this year and will continue to climb, standing at 2.3% in 2011. In 2009, inflation stood at 0.8%.

Slovenia's unemployment rate, standing at 6.2% in 2009, is meanwhile projected to peak at 7.4% in 2010 and then drop to 6.8% in 2011.

The global economy will grow faster than was initially expected, with forecasts raised to 4.2% for 2010 and 4.3% for 2011 under IMF's update figures.

The forecasts for eurozone growth meanwhile remain virtually the same, at 1% for 2010 and 1.5% for 2011. The region is facing a slower and an uneven recovery compared to other regions, the IMF said.

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