Slovenia central bank sees 2020 GDP down 6.5% due to coronavirus pandemicChristian Fernsby ▼ | June 8, 2020
The Bank of Slovenia expects the county’s GDP to fall 6.5% in 2020 due to the coronavirus pandemic, it said on Monday.
Vice Governor Jozef Bradesko
Topics: Slovenia GDP
He told a news conference the bank based its forecast on an expectation that a medical solution to the coronavirus will be found in 2021. The central bank sees 2022 GDP growth at 3.6%.
Exports are expected to fall by 12.6% this year and rise by 7.5% in 2021.
The average annual inflation rate this year is seen at zero mainly due to lower global energy prices, down from 1.7% in 2019. Inflation should rise to 1.3% next year, the bank said.
Slovenia exports about 80% of its production, mostly to other EU states. Its main exports include cars, car parts, pharmaceuticals and household appliances.
Slovenia introduced a general coronavirus lockdown in mid-March and started to gradually lift it from April 20.
In May it became the first European country to declare an end to its COVID-19 epidemic. Slovenia has reported 1,485 coronavirus cases and 109 deaths. ■