Hot topics

Slovenia Business Week no. 15: Slovenia Makes it among Advanced Economies in IMF Report

The International Monetary Fund (IMF) has ranked Slovenia among advanced economies in its world economic outlook

The International Monetary Fund (IMF) has ranked Slovenia among advanced economies in its world economic outlook in what is the first time ever. The document, released on Wednesday, 11 April, forecasts that Slovenia's economic growth will slow down to 4.5% in 2007 and 4% in 2008, from 5.2% in 2006.

The IMF also projects that the country's unemployment rate will stay level at 6.4% both in 2007 and 2008. Likewise, inflation is to stay put at 2.7% this year and edge down to 2.4% in 2008.

During their last visit to Slovenia in March IMF experts warned of the challenges facing Slovenia following the euro changeover.

The IMF delegation then urged the country to undertake substantive reforms of the pension system in order to ensure its sustainability.

It also highlighted the need for Slovenia to maintain prudent fiscal and wage policies, and increase economic flexibility and productivity so that the economy can continue to grow without building up inflationary pressures.

The IMF world economic outlook forecasts that the global economy will expand by 4.9% in 2007, a slow down compared to 5.4% in 2006. The euro zone is to post 2.3% growth this year.

Source: Slovenian Press Agency STA

Author: STA, Slovenian National Press Agency