Business News

IMF Slightly Downgrades Slovenia's Growth Forecast

Washington, 20 September (STA) - The International Monetary Fund (IMF) downgraded the prognosis for Slovenia's economic growth for 2011 from 2% to 1.9% in its second World Economic Outlook report published on Tuesday. Meanwhile, it cut the growth forecast for the eurozone from 2% in its June forecast to 1.6%.

The IMF also froecast that Slovenia will record 2% economic growth in 2012, which is 0.4 percentage points less than in its previous forecast.

Economic growth in the 17 countries of the eurozone is meanwhile expected to slow down to an average of 1.1% in 2012, a 0.6 point downgrade from this year's first prediction.

In its report, the IMF warned that the debt crisis in the eurozone was putting the global economy in danger and urged help for banks that are strongly exposed to debt-ridden European countries.

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