The forecast for Slovenia in the latest World Economic Outlook report is a drastic downgrade compared to the projection from last autumn, in which Slovenia was forecast to record 2.9% GDP growth this year.

Other forecasters are also changing their outlooks for Slovenia to negative due to the pandemic. The government's macroeconomic think tank IMAD estimated at the end of March a 6-8% drop in GDP this year, and the central bank has also projected a steep decline in GDP.

The IMF has meanwhile projected annual inflation of 0.4% for Slovenia this year and 1.4% for next year. The survey unemployment rate is expected to increase to 9% this year and to drop to 6% in 2021.

The latest World Economic Outlook report, which does not have a section reserved specifically for Slovenia, was published two days ahead of the start of the annual meetings of the IMF and the Boards of Governors of the World Bank Group (WBG).

Gita Gopinath, the IMF's chief economist, says in the report that "it is very likely that this year the global economy will experience its worst recession since the Great Depression, surpassing that seen during the global financial crisis a decade ago".