The Slovenia Times

Slovenia's GDP Growth Forecast for 2011 Down to 1.5%


According to director of the Office for Macroeconomic Analysis and Development (IMAD) Bostjan Vasle, who presented the latest projections at a government session on Wednesday, growth will remain slow this year and in the first half of 2012, but will continue recovering, PM Borut Pahor told the press after the session.

The value of exports is expected to continue increasing in the coming months, while domestic growth factors will remain moderate, according to Pahor.

He moreover announced that the government would focus on spurring export-related projects when drafting the budget for the next two years.

Slovenian companies often turn to foreign markets to obtain loans, as Slovenian banks remain very careful when it comes to exposing themselves to loan-related risks, Pahor said.

Pahor reiterated that his government had tried to push through changes needed to propel the Slovenian economy, but the voters turned them down, pointing to the pension reform that was rejected in the 5 June referendum. He added that this would surely carry consequences.

"The government will not take the responsibility for this. I did my job," Pahor argued, adding that people had the right to turn down changes, but would have to accept the consequences.


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