According to the Bank of Slovenia, this year’s economic growth will amount to 2.6% and next year to 2.5%.

The Bank of Slovenian published their forecast for this year’s and the following year’s GDP growth. According to them, this year’s economic growth will amount to 2.6% and next year to 2.5%. Such a forecast is lower compared to the previous one (+3.2% for 2019), but the Bank of Slovenia stressed that growth of economic activity will continue to exceed average growth in the Euro area. It is presumed that GDP growth rate will stay close to these levels also in 2021 and 2022. Domestic consumption will present the main driver of economic growth alongside otherwise solid growth of export.

The Bank of Slovenia further states that global economic growth will be much slower this year than in 2018 and 2017, and that recovery in the coming years will be more gradual than projected in previous forecasts by international institutions. This is reflected in the lower assumption of growth in foreign demand for both the Euro area and Slovenia. Namely, protectionist measures and geopolitical friction create uncertain economic conditions that reduce confidence in the economy and affect the weaker investment and export activity of companies.