The autumn projection upgrades growth forecasts issued in the spring for the next three years due what Banka Slovenije said was more balanced economic growth caused by a bump in domestic spending.

For 2016 the bank projects growth of 1.9%, up from 1.8% in spring, while this is forecast to pick up again to 2.2% in 2017, which is an upgrade of 0.2 percentage points.

Domestic consumption has started to recover due to an increase in employment coupled with the effects of deflation, helping to balance out exports as the main engine of growth in previous quarters.