The Slovenia Times

IMF Expects Growth of Slovenia's GDP in 2014


Inflation in Slovenia is expected to increase from 1.8% this year to 1.9% in 2014 and the unemployment rate from 9% to 9.8%, while the current account deficit is projected to fall from 2.7% to 2.5%.

This means unemployment would remain slightly below the expected eurozone average of 12.4% in 2014, whereas the current account deficit (at 2.3% in the eurozone) and inflation (1.1%) would be slightly higher.

Thus, the IMF's forecast for Slovenia for this year is in line with projections by most domestic and international institutions, while the organisation's expectations for 2014 are much more optimistic.

The most recent forecast by the government think tank IMAD announced a 0.2% expansion for 2014. The Chamber of Commerce and Industry (GZS) expects 0.1% growth, central bank Banka Slovenije 0.5% and the European Commission 0.7%.

Meanwhile, as regards global comparisons, the IMF's report establishes that the global recovery following the last crisis has turned from a two-tier into a three-tier affair as a result of the difference in the speed of recovery in the US and the eurozone.

The organisation expects the global economy to expand by 3.3% this year and by 4% in 2014, mostly on account of continuing growth in emerging markets and developing countries (at 5.3% and 5.5% in 2013 and 2014).

China's economy is expected to grow by 8% in 2013 and 8.2% 2014, while the growth figures projected for the US are 1.9% and 3%.


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