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IMF improves Slovenia's 2021 GDP growth f'cast to 6.3%

Author Radomir Ralev
IMF improves Slovenia's 2021 GDP growth f'cast to 6.3% Source: Slovenian finance ministry

LJUBLJANA (Slovenia), October 13 (SeeNews) - The International Monetary Fund (IMF) expects Slovenia's gross domestic product (GDP) to increase by 6.3% in 2021, revising its April forecast for 3.7% growth.

Slovenia's economy is seen growing by 4.6% in 2022 and by 2.9% in 2026, the IMF said in the October edition of its World Economic Outlook (WEO) report published on Tuesday.

The projections compare with an anticipated GDP growth of 5.0% for the euro area this year, following a 6.3% contraction in 2020. The IMF expects the euro area's GDP to grow by 4.3% in 2022.

The country is expected to swing to 1.4% inflation this year from 0.1% deflation in 2020. Inflation is expected to accelerate to 1.8% in 2022 and reach 2.2% in 2026.

Slovenia's unemployment rate is forecast to decrease to 4.5% in 2021 from 5.0% last year before falling to 4.3% in 2026.

Slovenia's current account surplus expressed as percentage of GDP is projected to fall from 7.4% in 2020 to 6.4% this year, before decreasing to 6.3% in 2022 and 3.0% in 2026.

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