May 17 (SeeNews) - The European Bank for Reconstruction and Development (EBRD) said it estimates Slovenia's gross domestic product (GDP) to increase by 1.5% in 2023, revising up its 1.0% growth forecast made in February.
In 2024, Slovenia's GDP is expected to grow by 2.3%, the EBRD said in the May issue of its Regional Economic Prospects report on Tuesday.
"GDP growth is expected to decelerate to 1.5% in 2023, before rising to 2.3% in 2024, as external demand improves and public investment benefits from increased absorption of EU funds," the EBRD said.
Slovenia's GDP grew by 5.4% in 2022 after rising by 8.2% in 2021.
Earlier this week, the European Commission improved its economic growth forecast for Slovenia in 2023 to 1.2% from 1.0% predicted in February, as private consumption is projected to continue increasing.