Slovenia Raises 2008 Forecasts for GDP Growth, Inflation - Govt Think Tank

UMAR expects GDP growth of 4.8% this year, up from 4.4% projected in the spring, it said in its autumn report with macroeconomic forecasts for 2008, 2009 and 2010. It, however, lowered its GDP growth forecasts for 2009 and 2010 to 3.1% and 4.0%, respectively.

The country posted revised 2007 economic growth of 6.8%

The institute raised its forecast for the country’s average inflation to 6.2% this year, 3.9% for 2009 and 3.3% for 2010. In the spring the institute forecast an average inflation of 5.2% for this year.

It also raised its forecast for end-year inflation this year to 5.3% from 4.0%. Last year Slovenia reported average inflation of 3.6% and end-year inflation of 5.6%.

Following are figures from UMAR’s report with the spring forecasts in brackets (in pct):