LJUBLJANA (Slovenia), May 8 (SeeNews) – The European Bank for Reconstruction and Development (EBRD) expects Slovenia's economy to grow by 3.3% in 2019, the lender said on Wednesday, affirming its November projection.
The growth of the Slovenian economy is expected to slow down to 2.8% in 2020, the EBRD said in its May 2019 Regional Economic Prospects report.
A major economic expansion in Slovenia continued in 2018 as the economy grew by an estimated 4.5%, following growth of 4.9% in the prior year. Growth was broad-based, with investment being the largest contributor in both years, the bank noted, adding that investment grew by more than 10% in 2018.
“Unemployment has dropped to a long-time minimum of 4.4% in December 2018, while the employment rate is on the rise, and stood at 56%,” the bank said.
Combined with earnings growth of 3-4% in both 2017 and 2018, the strong labour market has contributed to rising private consumption in Slovenia. Exports rose by more than 7% last year, helping net exports contribute positively to growth, the EBRD noted.