Free Fall: EU Forecasts 5.1% Deficit, 2% GDP Contraction

Business,  22 Feb 2013  / By STA, T. M.

Slovenia's budget deficit is projected to hit 5.1% of GDP and its economy contract by 2%, according to a forecast released by the European Commission released on Friday.

European Commisioner not happy with Slovenia
European Commisioner not happy with Slovenia

While the GDP projection is largely in line with domestic forecasts, the deficit figure is significantly above the estimates that the deficit will hover just above 3% of GDP.

The figures are also a downgrade from the Commission's November forecast, when it projected a deficit of 3.9% of GDP and a 1.6% contraction in the economy.

Tags: Slovenia, economy, GDP, EU, forecast, budget, deficit, European Commision




Kaiser.Economist, 22.02.2013 ob 18:27

The negative news keeps on coming out of Slovenia, no-one seems to be attempting to do anything positive in this country. Slovenians keep asking me whether they should invest in some business here and I keep having to advise them that only if they want to throw their money away.

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