Arab Today, arab today slovenia central bank slashes growth forecasts
Last Updated : GMT 04:49:28
Arab Today, arab today
Arab Today, arab today

Slovenia central bank slashes growth forecasts

Arab Today, arab today

Arab Today, arab today Slovenia central bank slashes growth forecasts

Ljubljana - AFP

Slovenia\'s central bank slashed its growth forecasts for the wobbly eurozone member on Tuesday, saying the recession will be deeper and longer than feared while not ruling out a bailout request. According to the bank\'s new autumn forecasts, gross domestic product (GDP) will slump 2.6 percent this year, compared to an earlier forecast of a contraction of 1.9 percent. Next year it had been expecting an expansion of 0.5 percent but it now projects that GDP will shrink 0.7 percent. Growth will return only in 2015, for the first time since 2011, with an expansion of 1.4 percent, it said. Governor Bostjan Jazbec also did not rule out Slovenia becoming the sixth member of the eurozone to seek outside help if its bond yields, currently close to the danger level of seven percent, remain high. \"There are and we are examining different scenarios. Everything is still open. The crucial thing is what\'s going to happen with the economy. Nobody would like Slovenia to ask for help,\" Jazbec told a news conference. \"The decision to seek help depends strongly on the financial markets\' confidence in Slovenia. All measures in recent months aim at convincing investors that Slovenia can solve its problems in a transparent and credible way.\" Earlier on Tuesday, Prime Minister Alenka Bratusek said she was sure the former Yugoslav republic would not need outside assistance. \"I am convinced that Slovenia will not ask for help. We are working very intensively on measures needed to avoid seeking help,\" Bratusek said in an interview with the state news agency STA. She also said that the economy could pick up in 2014 if the country managed to save its state-owned banks, currently crushed under a mountain of bad loans. \"Although economic forecasts predict (a recovery to start) in 2015, I\'m personally convinced that if we fix the banks, we might exit the crisis in 2014,\" Bratusek said. Installed in March after a period of political instability, the centre-left Bratusek has embarked on a plan to avoid a bailout, including a \"bad bank\" to absorb nonperforming loans, external audits of lenders, privatisations and tax hikes. The International Monetary Fund on Tuesday also cut its growth forecasts for Slovenia in its new World Economic Outlook report. It predicted a contraction of 2.6 percent this year, compared to 2.0 percent, and for GDP to shrink 1.4 percent in 2014, slashed from an earlier forecast of growth of 1.5 percent. The official national economic institute UMAR last week cut its 2014 GDP forecast to a contraction of 0.8 percent, keeping its projection of a slide of 2.4 percent in 2013 unchanged. For 2015 it expects growth of 0.4 percent.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today slovenia central bank slashes growth forecasts Arab Today, arab today slovenia central bank slashes growth forecasts

 



Arab Today, arab today
Arab Today, arab today Mohamed Bahari prepares new collection for spring 2017

GMT 06:15 2017 Monday ,27 February

Mohamed Bahari prepares new collection for spring 2017
Arab Today, arab today 17.4 million tourists visit UAE in 2016

GMT 00:47 2017 Monday ,27 February

17.4 million tourists visit UAE in 2016
Arab Today, arab today Sheds light on major steps in 12-year career

GMT 06:07 2017 Monday ,27 February

Sheds light on major steps in 12-year career
Arab Today, arab today UN envoy sets out framework

GMT 07:25 2017 Monday ,27 February

UN envoy sets out framework
Arab Today, arab today Ayat Abaza says state TV presented major stars

GMT 03:52 2017 Sunday ,26 February

Ayat Abaza says state TV presented major stars
View News in Arabic - Business: مصارف
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Penguins in the age of dinos

GMT 11:44 2017 Saturday ,25 February

Penguins in the age of dinos
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today 'Constructive' Vauxhall talk with union

GMT 08:54 2017 Saturday ,25 February

'Constructive' Vauxhall talk with union
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Reasons for the delay 'On the Stairs of Servants'

GMT 06:42 2017 Saturday ,25 February

Reasons for the delay 'On the Stairs of Servants'
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage

GMT 07:23 2017 Friday ,24 February

Ola Ghanem hopes to work with M.Ramadan

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years

GMT 18:23 2017 Friday ,24 February

Fadi explains secrets of  Nancy Ajram's newlook

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"

GMT 10:51 2017 Saturday ,25 February

Pigs with edited genes show resistance

GMT 14:04 2017 Friday ,24 February

Messi visit will contribute in tourism

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 01:04 2017 Tuesday ,28 February

Nokia 3310 is back — and so is 'Snake'

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives heritage in jewelries
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday