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IMF cuts Slovenia's 2019 economic growth forecast to 2.9%

IMF cuts Slovenia's 2019 economic growth forecast to 2.9% Source: Slovenian government

LJUBLJANA (Slovenia), October 16 (SeeNews) – The International Monetary Fund (IMF) said it has lowered its forecast for Slovenia's economic growth in 2019 to 2.9%, from 3.4% predicted in April.

Slovenia's economy is expected to grow by 2.9% in 2020, the IMF said in the October edition of its World Economic Outlook report published on Tuesday.

According to the global lender, Slovenia's economy grew by an estimated 4.1% in 2018.

Slovenia's average annual inflation is seen at 1.8% this year and 1.9% in 2020, compared to 1.7% inflation in 2018. In April, the IMF said that the country's consumer prices will rise by 1.4% in 2019.

The country's current account balance is expected to be in surplus of 4.2% of GDP in 2019 and 4.1% next year, the IMF said. Slovenia ended 2018 with a current account surplus of 5.7% of GDP.

Slovenia's unemployment rate is seen falling to 4.5% this year from 5.1% in 2018.