Crisis in Slovenia Might Take Longer Than Expected

Politics ♦ Published: July 1, 2013; 17:51 ♦ (Vindobona)

According to the latest economic report by auditing firm Ernst&Young;, the financial crisis in Slovenia will take longer than expected beforehand. However, the country should still be able to avoid international bailout.

Crisis in Slovenia Might Take Longer Than Expected / Picture: © Vindobona.org

The report by Ernst&Young, which was preparted in cooperation with Oxford Economics, estimates Slovenia’s economy to shrink by 4.9 percent of GDP in 2013 and to keep shrinking in 2014 when a reduction of 2.9 percent is expected. For the year 2015 a growth of 1.1 percent is expected. The key reason for the contraction will be an 11.1 percent decline in gross capital formations in…

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