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Slovenian c-bank lowers 2019, 2020 GDP growth estimates

Author Iskra Pavlova
Slovenian c-bank lowers 2019, 2020 GDP growth estimates GDP, Creative Commons.

LJUBLJANA (Slovenia), December 18 (SeeNews) – Slovenia's central bank said it has lowered its gross domestic product (GDP) growth forecasts for 2019 and 2020, saying exports growth and domestic demand will remain the main growth drivers.

The economic growth will slow down to 2.6% in 2019 and 2.5% next year, from 4.1% in 2018, and will keep these growth levels also in 2021 and 2022, Bank of Slovenia said in the December issue of its macroeconomic projections.

In its previous forecast made in June the central bank said Slovenia's GDP will expand by 3.2% in 2019 and by 2.9% in 2020.

"The economic growth will continue to be higher than the EU average, thanks to which the country will continue to catch up with the EU's most developed members," the central bank said.

It added that the risks to its latest economic growth outlook remain on the downside, and are mainly linked with the international environment.

The European Commission, the  European Bank for Reconstruction and Development (EBRD) and the International Monetary Fund (IMF) have also lowered their GDP forecasts for Slovenia earlier this year, expecting growth of 2.6%-2.9% this year and 2.7%-2.9% in 2020.