LJUBLJANA, Feb. 29 (Xinhua) — Slovenia’s Institute of Macroeconomic Analysis and Development (IMAD) revised its 2024 forecast for Gross Domestic Product (GDP) growth on Thursday, lowering it from the previously projected 2.8 percent last September to a new estimate of 2.4 percent.
Slovenia’s economy expanded by 1.6 percent in 2023.
Exports are expected to grow by 1.5 percent this year after a fall of 2 percent in 2023, the institute said, adding that export growth will be limited by lower competitiveness due to rising costs of labor in Slovenia.
Despite a notable 10.3 percent rise in the average wage within the public sector last year, several trade unions within this domain are pressing for even higher wages. The nation is currently grappling with its lengthiest-ever strike involving doctors and dentists, which started on Jan. 15.
Last year, the steepest price surge occurred in the health sector, which reached 10.9 percent, according to the institute. In contrast, the holiday packages witnessed the most notable price drop of 12.2 percent.
Slovenia’s annual inflation rate grew by 3.4 percent in February, a substantial decrease from last year’s 9.3 percent, the country’s statistical office said on Thursday.
Source Agencies
