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




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