EC slightly cuts Slovenia's GDP growth forecast for 2024

Slovenia's economy is expected to expand by 2.7% in 2025, the Commission said in its Winter 2024 Economic Forecast report on Thursday.

"Weak sentiment and low exports demand are expected to limit growth at the beginning of 2024. With continued strong investment, also supported by the RRP, and recovery of demand in export markets, growth is projected to improve over the forecast horizon," the Commission said.

In 2025, private consumption is expected to increase at a faster rate compared to 2024, with net exports forecasted to remain relatively stable, while trade volume is anticipated to experience significant growth compared to the previous year.

"Headline inflation is projected to decrease to 2.9% in 2024, on the back of moderating energy prices and relatively weak demand. In 2025, despite continued wage pressures, HICP inflation is forecast to fall further to 2.0%. For both years, this is a downward revision compared to autumn," the EU's executive body said.

Earlier this week, Slovenia's statistical office said the country's economy expanded by a real 1.6% year-on-year in 2023, citing preliminary data.