Slovenia Economic Outlook
October 27, 2020The economy likely contracted at a slower pace in annual terms in Q3, as the impact of the pandemic lessened. Data for July–August shows that conditions were less downbeat: Both industrial production and retail sales decreased at a milder pace compared to Q2’s average. Turning to Q4, a surge in Covid-19 cases led to new restrictions in October, which are likely to hamper the recovery. In other news, in early October Moody’s upgraded Slovenia’s sovereign rating to A3, citing fiscal prudence in the past four years and a healthier banking sector. The move bodes well for credit conditions and could aid the government in financing next year’s budget deficit. Meanwhile, the draft 2021 budget submitted to the European Commission in October sees higher expenditure on public investment and the wage bill, and cuts to most other spending areas. The fiscal shortfall is predicted to remain sizable.
Slovenia Economic GrowthGDP is seen recovering from the pandemic’s fallout in 2021 on the back of rebounding private spending amid an improving labor market, and recovering exports. However, the recent flare-up in Covid-19 cases throughout Europe raises uncertainty, posing a downside risk to the outlook. FocusEconomics analysts project the economy to expand 5.0% in 2021, which is down 0.2 percentage points from last month’s projection. In 2022, the economy is seen growing 3.3%.
Slovenia Economy Data
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|Bond Yield||0.30||-0.79 %||Dec 31|
|Exchange Rate||1.12||0.65 %||Dec 31|
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Slovenia Economic News
July 9, 2021
Industrial output expanded 22.1% compared to the same month of the previous year in May, which followed April's 35.2% increase.
June 30, 2021
Consumer prices increased 0.58% over the previous month in June, coming in below May's 0.93% rise.
June 10, 2021
Industrial output rose 35.9% year-on-year in April (March: +11.5% yoy).
Slovenia: Economy records best result since Q4 2019 in the first quarter, but remains below pre-pandemic levels
May 31, 2021
GDP rebounded in the first quarter, growing 1.6% year-on-year and contrasting the 4.5% contraction recorded in the fourth quarter of last year.
May 31, 2021
Consumer prices rose 0.93% in May over the previous month, coming in below the 1.04% increase seen in April.