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Slovenia Weekly

On the right path

02.06.2017

Photo: Mostphotos
Economic growth in Slovenia in the first quarter was once again amongst the highest in the euro area. This continues a three-year period of increased growth, according to the Institute for Macroeconomic Analyses and Development, which expects the trend to carry through to the end of the year.

According to figures from the Statistical Office of the Republic of Slovenia, GDP growth is at its highest level since 2008. It was 5.3 percent higher in the first quarter of 2017 in comparison with the same period last year. The economic growth can be attributed to exports, foreign demand and the increasingly competitive position of Slovenian companies abroad. While growth of both exports and imports was more moderate over the past two quarters, their growth has accelerated in the first quarter of this year.

According to the Ministry of Finance, the economic growth is the consequence of the growth in foreign demand and numerous measures which have been adopted since the beginning of efforts to resolve the banking crisis. This was also the view of Prime Minister Miro Cerar, who wrote that “Slovenia is on the right path, the Government measures are resulting in tremendous numbers”. The ministry also found that the surge was fuelled by the growth of exports, as well as the strengthening of domestic consumption and private investment. New construction is increasing, and public investment is expected to rise. Unemployment continues to decrease, and lending activity is increasing, including in the corporate sector.


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